Mortgage Rates Today Slightly Higher as U.S. will Hit Debt Ceiling at the End of 2012

Mortgage rates today moved slightly higher as news that the U.S. debt ceiling will be reached at the end of 2012. News that the debt ceiling will be hit before a "fiscal cliff" agreement is hashed out in Congress puts more pressure on politicians to come up with a compromise. Treasury Secretary Timothy Geithner, notified Congress in a letter yesterday that the nation technically hits its $16.394 trillion debt ceiling on Monday, but his department can take "extraordinary measures" to keep paying the bills for another few months.

The lack of progress on the debt talks hasn't fased the markets as investors still believe a comprimise will me made before we fall off the cliff or just after falling off the cliff. Stock prices have held up over the past few weeks and bond yields have risen sending current mortgage rates higher as well. We don't expect mortgage rates to move much higher and rates will fall to new lows in 2013 as the Federal Reserve continues to buy mortgage-backed securities forcing rates lower.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
30 yr fixed refi in 23223, All points, Credit score: 740+     Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
30 yr fixed Mortgage Loan from JG Wentworth Home Lending
JG Wentworth Home Lending
https://www.brimg.net/system/img/inst/10054_logo.gif
300000
Refinance
4.258
4.250
USD
JG Wentworth Home Lending Logo
NMLS # 2925
State Lic # MC-1875
at 0.000 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $299
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of Oak Ridge
Bank of Oak Ridge
300000
Refinance
4.295
4.250
USD
Bank of Oak Ridge
4.295%
4/18/2019
4.250%
at 0.250 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $853
 
 
30 yr fixed mtg refi Mortgage Loan from Northwest Federal Credit Union
Northwest Federal Credit Union
300000
Refinance
4.316
4.250
USD
Northwest Federal Credit Union
4.316%
4/17/2019
4.250%
at 0.750 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $79
 
 
30 yr fixed mtg refi Mortgage Loan from Bank of America
Bank of America
300000
Refinance
4.343
4.250
USD
Bank of America
4.343%
4/17/2019
4.250%
at 0.671 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $1,289
 
 
30 yr fixed mtg refi Mortgage Loan from Apple Federal Credit Union
Apple Federal Credit Union
300000
Refinance
4.345
4.250
USD
Apple Federal Credit Union
4.345%
4/17/2019
4.250%
at 1.000 pts
60 day lock rate
Est payment: $1,475.82
Fees in APR: $352
 
 
30 yr fixed mtg refi Mortgage Loan from TD Bank, NA
TD Bank, NA
300000
Refinance
4.278
4.250
USD
TD Bank, NA
4.278%
4/19/2019
4.250%
at 0.000 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $982
 
 
30 yr fixed mtg refi Mortgage Loan from State Department Federal Credit Union
State Department Federal Credit Union
300000
Refinance
4.432
4.375
USD
State Department Federal Credit Union
4.432%
4/22/2019
4.375%
at 0.000 pts
60 day lock rate
Est payment: $1,497.86
Fees in APR: $2,000
 
 
30 yr fixed mtg refi Mortgage Loan from LincolnWay Community Bank
LincolnWay Community Bank
300000
Refinance
4.155
4.125
USD
LincolnWay Community Bank
4.155%
4/23/2019
4.125%
at 0.000 pts
30 day lock rate
Est payment: $1,453.95
Fees in APR: $1,085
 
 
30 yr fixed mtg refi Mortgage Loan from Virginia Credit Union
Virginia Credit Union
300000
Refinance
4.328
4.250
USD
Virginia Credit Union
4.328%
4/23/2019
4.250%
at 0.375 pts
45 day lock rate
Est payment: $1,475.82
Fees in APR: $1,650
 
 
30 yr fixed mtg refi Mortgage Loan from Fulton Bank, NA
Fulton Bank, NA
300000
Refinance
4.539
4.500
USD
Fulton Bank, NA
4.539%
4/23/2019
4.500%
at 0.125 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $1,007
 
 
30 yr fixed mtg refi Mortgage Loan from Santander Bank, N.A.
Santander Bank, N.A.
300000
Refinance
4.557
4.500
USD
Santander Bank, N.A.
4.557%
4/23/2019
4.500%
at 0.000 pts
60 day lock rate
Est payment: $1,520.06
Fees in APR: $2,004
 
 

Mortage Data Provided by Bankrate.com Many lenders have different rates on their own Websites than those posted on Bankrate.com. In order to get the Bankrate.com rate, please identify yourself as a Bankrate.com customer. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the lender you choose, please click here.

The rates above were collected by Bankrate.com on the dates specified. Rates are subject to change without notice and may vary from branch to branch. Rate/APR and terms may vary based on the creditworthiness of the individual and the extent to which the loan differs from the one used for Bankrate.com quotes. For criteria used in surveys of rates above, click here. These quotes are from banks, thrifts, and brokers, some of whom have paid for a link to their own Web site, where you can find additional information.






Fixed conforming 30 year mortgage rates are averaging 3.45 percent today, a slight increase from yesterday's average 30 year mortgage rate of 3.44 percent. Average 30 year mortgage interest rates have increased over the past two weeks sending mortgage loan demand lower. The Mortgage Bankers Assocation reported applications for mortgages decreased 12.3 percent last week. Loan demand for home purchases and refinances both declined week over week as higher rates dampened demand for loans.

Although average 30 year mortgage rates are higher this week rates are still increadibly low. You can find lenders quoting 30 year refinance rates well below the average of 3.45 percent, in fact right now on our 30 year refinance rate list for the state of California we have two lenders quoting rates as low as 2.875 percent with points. The lowest refinancing rates without points are just below the averages at 3.25 percent.

Today's mortgage rates on 15 year conforming loans increased to 2.84 percent, up from an average 15 year conforming mortgage rate of 2.81 percent set last week. I personally never thought I'd see 15 year conventional mortgage refinance rates below 3.00 percent. Rates will fall and make new lows in 2013 thanks to the Fed.

Mortgage rates currently on 15 year conforming loans are available well below the average of 2.84 percent with points and without points. Right now on our 15 year refinance mortgage rates list for the state of Texas you can find lenders quoting 15 year rates as low as 2.25 percent with points. The lowest 15 year refi rates without points are also below the average at 2.50 percent.

Jumbo mortgage rates are also higher this week over last following bond yields higher. Current jumbo mortgage rates today on 3o year loans are back over 4.00 percent averaging 4.08 percent, up from last week's average 30 year jumbo mortgage rate of 3.98 percent. Currently on our jumbo refinance rates list for Florida the lowest rates on 30 year jumbo loans are at 4.00 percent with zero mortgage discount points.

Average 15 year jumbo mortgage rates today are averaging 3.44 percent, up from the prior week's average 15 year jumbo mortgage rate of 3.39 percent. If you're looking for 15 year jumbo rates right now on our rate table for the state of South Carolina we have one lender quoting 15 year jumbo refi rates as low as 2.875 percent with zero mortgage discount points.

Feel free to search our rate tables so you can find the best mortgage rates to buy a home or the best refinance rates to refinance your current mortgage. Unlike most websites you don't have to provide any personal information t
 
 
Author: Brian McKay
December 27th, 2012
Posted in: Mortgage Rates