Mortgage Market Survey

The average rate for a conforming 30-year mortgage has fallen for the third week in a row to 3.66 percent, the lowest rate since May 2013 when the rate averaged 3.59 percent and 75 basis points below the 4.41 percent average rate at the same time last year.

And while Jumbo mortgages had been cheaper than conforming loans for quite some time, the advertised 30-year rate for a Jumbo loan at Wells Fargo is currently running 3.875 percent versus 3.750 percent for a conforming loan up to $417,000.

Averaging around 6.7 percent over the past twenty years, the 30-year rate hit a three-year high of 4.58 percent in August of 2013 and an all-time low of 3.31 percent in November 2012.

19 thoughts on “Mortgage Rates Continue To Drop, Jumbos At A Small Premium”
  1. Yes, I never thought I’d refi after I got such a great rate when we bought a few years ago. But we just signed all the closing docs on a 3.6% jumbo refi with Citi last night. If someone is going to lend me money at about 2.4% after tax breaks, I’ll take it as I’m pretty sure I can beat that in the market.

  2. as well- locked a 3.75% refi this morning. will save $300/month from a 4.35% from 2011, and will be a $15,000 savings on the full term of the loan as well.

      1. zero dollars- I am using cashcall- sounds a bit shady but a few people I know have used them with good results.

    1. It’s a 30 year jumbo. My mortgage broker is Navid Filsoof. I am a Veteran and this is a VA loan though, so I don’t know if you can get the same rate or not.

      1. Wow! Congrats. JR, did you get yours through Citi private banking? Maybe I need to look into the new opportunities afforded by partner status. (Also, are you the poster formerly known as Tripp?)

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