30 Year Fixed
4.72%    -0.04
15 Year Fixed
4.28%    -0.02
10YR Treasury
2.91%    +0.0017
FNMA 30YR 3.5
98.73    +0.05
FNMA 15YR 2.5
98.94    -0.06
Mortgage Rates Edge Back Down Toward Long-Term Lows
December 13, 2018

Mortgage rates fell moderately today, helping them move part of the way back down toward their lowest levels in more than 3 months (seen back on Friday).  The average lender continues quoting rates that are roughly 3/8ths of a percentage point lower than the highs from early November.  

Last Friday's low rates marked the culmination of the strongest winning streak for rates of 2018.  We've been in a bit of a holding pattern since then, with next week's scheduled announcement from the Federal Reserve likely serving as the motivation for the next (and probably last) big wave of momentum for the year.  "Big wave" is more of a relative term, perhaps.  It may only end up being "big" relative to the current, fairly flat week leading up to it.

Loan Originator Perspective

Bonds continued hovering in recent ranges, posting small gains today.  I doubt we'll see any significant changes before next week's FOMC statement.  I'm locking loans closing within 30 days, for all but the most risk-craving clients.  -Ted Rood, Senior Originator

Today's Most Prevalent Rates

  • 30YR FIXED - 4.75%
  • FHA/VA - 4.25%
  • 15 YEAR FIXED - 4.25%
  • 5 YEAR ARMS -  4.375%-4.875% depending on the lender

Ongoing Lock/Float Considerations

  • Headwinds that had plagued rates for most of the past 2 years are slowly dying down.  The rising rate environment could flare up again, and some headwinds remain in effect, but the broader tone has taken a more optimistic shift.

  • Highest rates in more than 7 years in Oct/Nov.  Lowest rates in more than 2 months as of early December

  • This is a bit of a crossroads.  We may look back at Oct/Nov and see a long-term ceiling, or we may look back at early December and see a temporary correction before more pain.  Either way, it's one of the more hopeful positions we've been in for several years.
  • Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders.  The rates generally assume little-to-no origination or discount except as noted when applicable.  Rates appearing on this page are "effective rates" that take day-to-day changes in upfront costs into consideration.

30 Year Fixed Rate Mortgage
15 Year Fixed Rate Mortgage
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Today's Rates
Best Execution
Rate Change
30 Yr FRM 4.72% -0.04
15 Yr FRM 4.28% -0.02
FHA 30 Year Fixed 4.25% -0.05
Jumbo 30 Year Fixed 4.46% -0.02
5/1 Yr ARM 4.70% -0.02
Average Mortgage Rates
Rate Points Change
15 Yr. Fixed 4.15% 1.16 -0.02
30 Yr. Fixed 4.78% 1.15 +0.01
MBA **
30 Yr. Fixed 4.96% 0.49 -0.01
15 Yr. Fixed 4.39% 0.50 +0.01
30 Yr. Jumbo 4.93% 0.31 +0.01
30 Yr. FHA 4.95% 0.80 +0.01
5/1 ARM 4.24% 0.48 +0.02
Freddie Mac **
30 Yr. Fixed 4.63% 0.50 -0.12
15 Yr. Fixed 4.07% 0.50 -0.14
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 4.04% 0.30 -0.03
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
Secondary Markets
Price Change
30YR FNMA 3.0 96.09 +0.06
30YR FNMA 3.5 98.73 +0.05
30YR GNMA 3.0 97.41 -0.02
30YR GNMA 3.5 99.72 -0.02
15YR FNMA 3.0 98.94 -0.06
15YR FNMA 2.5 96.77 +0.02
Yield Change
2 YR 2.7620% -0.0124
5 YR 2.7562% -0.0135
10 YR 2.9131% +0.0017
30 YR 3.1655% +0.0182
Prices as of: 12/13/2018 5:06PM EST
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available.  We use a proprietary formula to calculate averages based on best-execution rates from top lender's rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.