Mortgage Rates Today Updated May 25, 2013

Mortgage Rates Today

Loan Type   Purchase    Refinance
Location  by State    by Zip Code
Loan Amt   $

3.139% APR

15 Yr. Fixed

  

2.500% Rate

  

$1,046 / month (est)

GO

Updated 5/24/2013

  • Competitive rates and no hidden fees
  • One dedicated mortgage banker from first call to closing
  • Simple, straightforward process

3.230% APR

15 Yr. Fixed

  

2.750% Rate

  

$1,053 / month (est)

GO

Updated 5/24/2013

  • We close many of our loans in 30 days or less!
  • Don't miss your chance to lock in a low fixed-rate and payment today.
  • Rates continue to be at historic lows!

2.911% APR

15 Yr. Fixed

  

2.500% Rate

  

$1,029 / month (est)

GO

Updated 5/24/2013

  • Direct Mortgage Lender
  • Close in as little as 10 days
  • Apply Online. PreApproved in Minutes
The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes. More Info.. These quotes are from banks, thrifts and brokers who have paid for a link to their website in the listings above and you can find additional information about their loan programs on their websites.



Mortgage Rates Today Make New Lows Thanks to FOMC

0 comments on this article Posted by James Leonard in Mortgage Rates Today on October 16th, 2012 , tagged with , , , , , , , , .

Just when you thought it was the best time to go ahead and pull the trigger to refinance your loan mortgage rates today make new lows. I just refinanced my mortgage loan back in March of this year and got a 15 year mortgage rate of 3.50 percent, now there are lenders offering current mortgage rates on 15 year loans as low as 2.25 percent with points, which is much lower than Freddie Mac’s average 15 year conforming mortgage rate in the most recent Primary Mortgage Market Survey (MMS).

In Freddie Mac’s mortgage rate survey for the week that ended on October 11, 2012, average 30 year mortgage rates were at 3.39 percent with  0.7 mortgage points, which is actually higher than the prior week’s average 30 year mortgage interest rate of 3.36 percent. In the prior week’s survey average 30 year mortgage interest rates hit a record low. There has been so many record lows sent on both conforming mortgage rates and jumbo mortgage rates it is hard to keep track.

Today’s mortgage rates on 30 year conventional home loans are lower and make a new record low. Current mortgage rates today on 30 year conventional home loans are averaging 3.35 percent. There are also lenders already offering 30 year mortgage rates today below the averages. On our mortgage refinance rates list for the state of California we have many lenders offering 30 year refinance rates on conforming loans at 3.125 percent with points without points you can find 30 year refinancing rates as low as 3.375 percent.

Average 15 year mortgage rates for the week ending October 11, 2012, were also slightly higher averaging 2.70 percent with 0.6 mortgage discount points. The average 15 year conforming mortgage rate was also higher from last week’s average of 2.69 percent. Mortgage rates current on 15 year conforming loans also just make another record low today averaging 2.64 percent. We will probably see 15 year mortgage rates falling as low as 2.25 percent on average before the year is over.

Speaking of mortgage rates as low as 2.25 percent on 15 year conforming loans you can already find lenders offering rates so low. First Internet Bank is offering 15 year refinance rates as low as 2.25 percent with just over 1 mortgage point. We also have lenders listed right here offering 15 year mortgage rates in the 2.25 percent range with a point or two. We also have lenders offering 15 year refi mortgage rates today without points at 2.625 percent.

Adjustable mortgage rates current were also higher for the week that ended on October 11, 2012. Average 5 year adjustable mortgage rates today are at 2.73 percent with 0.6 points, up from the prior week’s average 5 year adjustable mortgage interest rate of 2.72 percent. Current mortgage rates on 5 year conforming adjustable loans can be found well below the average rate. Currently in the state of Texas we have lenders offering 5 year adjustable refinance rates today as low as 1.875 percent with points.

Today Brings Another Round of All-Time Low Mortgage Rates

0 comments on this article Posted by James Leonard in Mortgage Rates Today on June 2nd, 2012 , tagged with , , , , , , , , , , , , .

Today brought another round of all-time low mortgage rates with no end in sight to the declines. Both mortgage rates and refinance rates today are at record lows after hitting record lows the previous week. Current mortgage rates today on 30 year mortgages are averaging 3.71 percent, down from yesterday’s average 30 year mortgage rate of 3.74 percent.

I just refinance my loan about 14 months ago, the interest rate on a 30 year loan I refinanced at was 5.15 percent. Now that 30 year rates are below 4.00 percent I’m thinking of refinancing again. I used a mortgage calculator and figured out with my loan amount if I get a refinance rate at 3.75 percent I can save $567.33 a month on my payments. Over the life of the loan my savings are over $100,000!

30 year rates made new lows the past 3 weeks but 15 year mortgage rates today are also at record lows and made record lows the past 6 weeks. Current 15 year mortgage interest rates are averaging 2.86 percent, down from yesterday’s average 15 year mortgage rate of 2.91 percent. Just last week 15 year mortgage rates broke 3.00 percent.

Today’s mortgage rates on adjustable home loans are also very low. Current interest rates on conforming 5 year mortgages are averaging 2.89 percent, down from yesterday’s average 5 year rate of 2.94 percent. 1 year rates are even lower today averaging 2.71 percent, a decline from yesterday’s average 1 year adjustable rate of 2.73 percent.

Another Round of Record Low Mortgage Rates Today

0 comments on this article Posted by James Leonard in Mortgage Rates Today on May 31st, 2012 , tagged with , , , , , , , , , , .

Just when you thought we hit the bottom on current mortgage rates we find rates have decreased yet again. Mortgage rates today on fixed conforming 30 year mortgage rates declined to a record low of 3.73 percent. 30 year rates today are lower than the Mortgage Banker Association’s average 30 year rate of 3.91 percent set on May 25th which is also a low. You can expect next week’s MBA survey to have even lower average rates.

30 year jumbo current mortgage rates averaged 4.23 percent in the survey, this is down from the May 18th average jumbo mortgage rate of 4.25 percent. There are many lenders offering 30 year jumbo mortgage rates under 4.00 percent.

Average 15 year mortgage rates declined for the week ending May 25th 2012,to 3.23 percent, this is also down from the May 18th record low of 3.26 percent. Today’s mortgage rates on 15 year loans are even lower averaging 3.02 percent. If you want to refinance and can you should do so, we might not see 15 year mortgage rates this low again in our lifetime!

30 year FHA loans are also lower at 3.70 percent for the end that ended on May 25th. This is down from another record low of 3.73 percent that was set on May 18th.

Last but not l

Low Bond Yields Today Drive Current Mortgage Rates

0 comments on this article Posted by James Leonard in Mortgage Rates Today on May 28th, 2012 .

Low bond yields today drove current mortgage rates to new all-time lows. Fixed conforming 30 year mortgage rates and 15 year mortgage rates today hit all-time lows in Freddie Mac’s current Primary Mortgage Market Survey. This is the third consecutive week that 30 year mortgage interest rates made new record lows.

In the PMMS survey for the week ending May 24th, todays’ mortgage rates on fixed conforming 30 year mortgages hit a new record low of 3.78 percent with 0.8 mortgage loan points, down from the previous record low of 3.79 percent. 30 year rates a year ago here almost 100 basis points higher at 4.60 percent.

I remember at the time thinking wow, 30 year mortgage rates are under 5.00 percent, I should look into refinancing my loan because refinance rates were just as low. Now that 30 year refi rates are under 4.00 percent I’m thinking about refinancing my loan again. In fact I’m thinking about refinancing to a 15 year loan since current rates on 15 year loans are even lower than 30 year rates.

15 year mortgage rates are averaging3.04 percent with 0.7 mortgage loan points for the week ending May 24, 2012, tying a record low set in the previous week’s survey. A year ago 15 year mortgage rates were averaging 3.78 percent. You can find lenders offering 15 year interest rates even lower than 3.00 percent. I just saw one lender advertising a rate of 2.65 percent on a fixed 15 year loan!

Current adjustable mortgage rates were mixed in last week’s survey. 5 year adjustable mortgage interest rates are averaging2.83 percen with 0.6 loan points, unchange from the prior week’s average rate. Last year 5 year adjustable rates were higher averaging 3.41 percent. Again, I remember thinking, wow 3.41 percent is an incredibly low loan rate.

1 year adjustable rates are averaging 2.75 percent with 0.4 loan points, down from last week’s average 1 year rate of 2.78 percent. Last year 1 year rates were averaging 3.11 percent. I remember when 1 year CD rates were at these levels though I wouldn’t get an adjustable loan when I can get a fixed rate on 15 year loans under 3.00 percent.

Fixed Conforming Mortgage Rates Today Hit New Lows Causing Refinance Demand to Increase

0 comments on this article Posted by James Leonard in Mortgage Rates Today on May 23rd, 2012 , tagged with , , , , , , , , .

Just when you thought mortgage rates today couldn’t move any lower they have causing a boom in homeowners looking to refinance their mortgage loan. Current mortgage rates on conforming 30 year loans, conforming 15 year loans and FHA loans all hit a new all-time low in this week’s Mortgage Bankers Association’s application survey causing refinance applications to increase 5.6 percent.

Refinance demand was fueled by conforming 30 year mortgage rates hitting an all-time record low of 3.93 percent for the week ending May 18, 2012. This rate is down from last week’s average rate of 3.96 percent. Mortgage rates today are even lower than the MBA’s rate since the MBA’s rate is as of May 18, 2012. Rates have fallen since then and you can find some lenders offering 30 year conforming mortgage rates as low as 3.50 percent if you’re willing to pay mortgage points.

Also contributing to refinance demand today is ultra low 15 year mortgage interest rates. In the survey 15 year mortgage rates averaged 3.26 percent, unchanged from last week’s all-time record low. You can get 15 year mortgage rates today from lenders as low as 2.75 percent, again if you’re willing to pay mortgage points to get a lower rate it’s available.

Current FHA mortgage rates today averaged 3.73 percent, down from last week’s record low FHA mortgage rate of 3.75 percent. FHA mortgages are government guaranteed mortgage loans. Lenders offer FHA mortgage rates lower than regular conforming mortgage rates since the government guarantees they will be paid back.

Jumbo mortgage rates, which are rates for jumbo mortgages not backed by the government run higher than both conforming and FHA rates. Current jumbo mortgage rates today on 30 year loans are averaging 4.25 percent, an increase from the previous week’s average of 4.20 percent.

Also moving higher in this week’s survey on mortgage rates on adjustable conforming loans. Current adjustable mortgage rates today are averaging 2.83 percent, an increase from 2.80 percent last week.

Mortgage Rates Today Move Lower as Treasury Yields Decline

0 comments on this article Posted by James Leonard in Mortgage Rates Today on March 5th, 2012 , tagged with , , , , , , , , .

Increadibly low mortgage rates today move lower again as Treasury Yields declined again this past week. 10 year bond yields which have been under 2.00% for a while now along with 30 year current mortgage rates today being lower than 4.00%. 15 year conforming current mortgage rates today near historic lows at 3.14%. If you don’t know what mortgage loans are or how to get today’s mortgage rates at the lowest level from lenders you should read the information below.

Mortgages are loans home buyers get in order to afford to buy a home. Most people don’t have the hundreds of thousands of dollars to buy a home that’s where mortgages come into pay. When you get a mortgage you are borrowing money to buy the home and the lender is agreeing to lend you such a large some of money since the home is being used as collateral.

Current mortgage rates are not made up by lenders but tied to an index. There are several different indexes and depending on the lender set rates to one of the indexes. The most common index is a Treasury Security index. Other indices’ include the Cost of Funds Index and the London Interbank Offered Rate (LIBOR).

There are also different types of mortgages like fixed rate mortgages and adjustable rate mortgages. With fixed rate mortgages the interest rate stays the same for the entire life of the loan. When you apply for a loan you can lock-in the current mortgage rate since it takes a couple of months to close on a home loan.

Adjustable mortgage rates have a fixed period, usually 1 year, 3 year or 5 years depending on the mortgage type. After the initial period the mortgage rate changes usually every year. This can help you save money when mortgage rates move lower but cost you money when mortgage rates move higher.

The index and the margin on home loans are available from several types of lenders all you need to do is search for the best mortgage rates on home loans but at first, lower rates makes the ARM easier on your monthly payments than would be a fixed mortgages.

In some cases, you can borrow the money needed to pay these fees, but doing so will increase your loan amount and total costs for getting the loan. These costs are among the most common fees but this may not always be clear so you should ask each lender what their fees are.

When you compare mortgage rates you’ll see a rate and an annual percentage yield. If the APR is significantly higher than the initial mortgage rate, then it is likely that your rate and payments will be a lot higher when the mortgage loan adjusts in the future.

Mortgage rates are low so ask each mortgagee lender or broker for a list of today’s mortgage rates along with all fees involved on the loan.

Lenders base adjustable mortgage rates on a variety of indexes be sure to get information about mortgages from several lenders. Current rates are low but you can expect mortgage rates to increase in the future since the economy is getting better, unemployment is going lower and interest rates are sure to go higher in the coming years.

Once you have researched and you have an understanding of what each mortgage lender has to offer you should negotiate with them for the best possible mortgage rate, lowest mortgage rates and lowest closing costs.

Lenders offer different mortgage rates for the same loan terms to different people so you need to negotiate just like you would when you buy a car. Don’t be afraid to negotiate since you are paying for the mortgage loan. A .50% lower mortgage rate can be thousands of dollars in mortgage interest savings over 15 or 30 years.

To give you can example of where mortgage rates are right now The Money Store, Amerisave, Quicken Loans and Aimloan are all offer conforming 30 year mortgage rates under or just above 4.00%.

So you can see the difference between the lowest available mortgage rates price for a loan product and any higher mortgage rates can be at least 1.00% or higher. When comparing rates have the lender write down all the closing costs associated with the loan and what rate they can lock-in the mortgage at.

Ask if they will reduce one or more of its mortgage fees or maybe even give you a better mortgage rate when they originally quoted you. Once you are satisfied with the mortgage rate and mortgage terms you have negotiated, get the mortgage rate locked-in.

The lock-in should include the current mortgage rate that you have been quoted and agreed to and the number of mortgage points. You need to lock-in the mortgage rate since there are many steps when closing on a home loan and like I already said it can take 2 months or even 3 months.

When you lock-in you will probably pay a $200 to $300 fee to do so but the fee is small compared to getting a higher mortgage rate which will cost you tens of thousands of dollars in addition interest payments for a 30 year loan or 15 year loan.

Which type of home loan you get is up to you but good luck shopping for the lowest mortgage rates today!

Mortgage Rates Today Make Refinancing Worth While

0 comments on this article Posted by James Leonard in Mortgage Rates Today on November 26th, 2011 , tagged with .

Mortgage Rates Today

Mortgage rates today make refinancing your home mortgage loan worth while if the current mortgage rate on your home loan is at least 1.00% higher than today’s mortgage rates. Right now 30 year mortgage rates are around 4.00% so if you have a home loan with a mortgage rate at 5.00% or higher refinancing will save you money.

Better yet if you feel you can refinancing from a 30 year mortgage to a 15 year mortgage current mortgage rate on 15 year home loans are even lower than 30 year mortgage rates. Right now you can secure a 15 year mortgage rate 3.25%. If you have a 30 year loan at a higher rate as compared with today’s mortgage rates you’re monthly mortgage payments might not even go up that much.

Dont’ know what home equity means? Home equity is the dollar value difference between the balance you owe on your mortgage loan and the value of your home. Example: Your home is worth $500,000, you owe $400,000 on your home loan, the equity in your home is $100,000.

Of course there are other factors that come into play, the main factor being do you have enough equity in your home to refinance. Most lenders require at least 20 equity which means you can’t borrow more than 80% of your homes value.

You can find lenders that are will to go higher than 80% so when you’re shopping around and comparing mortgage rates currently available ask what loan to value they are going up to. If you’re not taking any cash out of your home when refinancing you might find a lender going up to 90% or more.

There is also a government program called Making Home Affordable which allows homeowners to refinance a loan held by Freddie Mac or Fannie Mae with a lot higher Loan To Value (LTV) ratio. Here is a Making Home Affordable video which is explains some of the program:

If you do have enough equity in your home you might choose to refinance, and take cash out to remodel your home, payoff credit cards or pay for your son or daughter college education. If you take cash out to pay for other things realize that you will pay interest on the additional cash you take out. Since mortgage rates are so low right now the interest rate you pay on the mortgage will probably be less than a credit card rate or any other loan rate.

Remember that, along with the potential benefits to refinancing, there are also costs when you refinance even with lower mortgage rates. Yes, mortgage rates today have fallen to record lows when you refinance for an amount greater than what you owe on your home. You can receive the difference in a cash payment this is called a cash-out refinancing. But regardless you could shop the lowest mortgage rates currently available.

One of the drawbacks to refinancing is the mortgage settlement costs (closing costs) you have to pay. If you plan to stay in your home or a long while the costs you pay at closing can be regained in interest saving.

To sum-up refinancing only makes sense if the mortgage rate on your current home loan is at lest 1.00% higher than mortgage rates today. In addtion, if you are planning on refinancing make sure you’re not planning on selling your home in a couple of years because you won’t make up the closing costs you have to pay in interest savings in 2 years or less. Shop around and compare mortgage rates to get the best mortgage rate possible.