Mortgage interest rates rose slightly yesterday, shaving off the modest improvements they saw a day earlier. This could be a result of the mixed economic data that was released on Thursday. As far as today’s interest rate movements are concerned, rates could swing in any direction depending on the outcome of the second revision of the fourth quarter GDP report and the latest Chicago PMI and Consumer Sentiment reports, which are due to be released later today.
Overall, mortgage rates have been rising in the past few weeks. In the beginning of the month the 30-year fixed mortgage was averaging 3.59%, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) and now it’s been hovering at 3.8%, the latest data from the housing giant showed.
With regards to current mortgage rates at major U.S. lenders, the 30-year fixed home loan is quoted at Bank of America (NYSE:BAC) at a rate of 3.625%, unchanged compared to yesterday’s data. The 15-year FRM ticked up by 0.125% since Thursday and now stands at 2.875%, according to our observations. Turning attention to home refinance loans, BofA’s 30-year fixed refi loan is coming out at a rate of 3.875%. The 15-year home refinance mortgage has been holding ground at 3.000% in the last few days.
At U.S. Bank (NYSE:USB), the 30-year home purchase loan is currently listed at a rate of 3.950%. Borrowers, who are more interested in the 15-year fixed home mortgage, will see this type of loan being advertised at 3.250%.
California-based top loan provider, Wells Fargo (NYSE:WFC) offers a wide range of mortgage loans including the 30-year FRM, which is coming out at a rate of 4.000% on Friday. Currently, the asking rate for the 15-year fixed home purchase loan is 3.375%. The 30-year refinance mortgage is carrying 4.000% interest cost, a slightly higher level than yesterday’s 3.875% rate. On the other hand, the 15-year fixed refi mortgage still hovers at 3.500%, just like a day earlier.
The above mentioned interest rates are subject to change and are not guaranteed. In order to search for live mortgage rate quotes from some of the top U.S. lenders, please click on the link below. To calculate your monthly mortgage payment, feel free to use our featured mortgage calculator.