Refinance Rates Stable This Week but Will Decline More in the Last Quarter of 2012
10 year Treasury yields moved about 20 basis higher after the Fed announced another round of stimulus as a result refinance rates today are also moving higher but not for long. Bond yields, equities, oil and gold prices all move higher as investors realize the Fed providing more liquidity will send markets higher.
Bond yields have already started heading lower today and will continue to move lower in 2012. 10 year bond yields which are currently at 1.82 percent will probably move down to the 1.25 percent range when the Fed's third round of easing is in full swing, or " twist" I should say. If bond yields move that low you can expect current refinance rates on 30 year conforming loans to move down to the 3.00 percent range, today's refinance rates on 30 year loans are averaging 3.52 percent.
You can already find home loan lenders advertising 30 year conforming refinancing rates well below the avergae of 3.52 percent. In fact right now on our 30 year refinance rates list for the state of Ohio there are lenders offering 30 year refi rates at 3.15 percent with points. If you don't want to pay points the lowest 30 year conventional refinance rates are at 3.25 percent.
Average 15 year mortgage refinance rates today are at 2.93 percent which is up slightly from an average 15 year refinance rate of 2.89 percent set on Friday. We could see 15 year refinance rates move down to 2.50 percent when the Fed starts their program of buying $40 billion a month in agency mortgage backed-securities (MBS).
Right now you can already find lenders offering 15 year refinancer rates currently below the average rate of 2.93 percent. If you live in Texas you can compare refinance rates on our Texas 15 year refi mortgage rates list and see that there are lenders advertising rates as low as 2.50 percent with points and 2.63 percent with no points.
Current jumbo refinance rates today on 30 year jumbo loans are averaging 4.17 percent, up from an average 30 year jumbo refinance rate of 4.13 percent. There are many lenders on our jumbo refinance rates list in the state of California that are already offering 30 year jumbo rates today at 4.00 percent without points and lenders offering rates even lower with points.
Average 15 year jumbo refinance mortgage rates today are at 3.35 percent, up from Friday's average 15 year jumbo refinance rate of 3.31 percent. Right now on our 15 year jumbo refinance rates list for Florida there are lenders offering rates as low as 2.875 percent with points and 3.00 percent without points.
Average 5 year conforming adjustable refinance rates today are at 2.95 percent, an increase from an average 5 year adjustable mortgage refinance rate of 2.93 percent. On our 5 year adjustable refi rates list for Colorado there are lenders listed offering 5 year refi rates at low as 2.125 percent with points and 2.25 percent without points.
Jumbo adjustable mortgage rates current are averaging 2.84 percent, an increase from an average 5 year jumbo mortgage rate of 2.81 percent. Today's refinance rates on 5 year jumbo adjustable mortgage loans in Florida can be found as low as 2.375 percent with points and 2.50 percent without points.
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