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Points  FREEandCLEAR More Info:
Points: Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount.
 
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Monthly Housing Payments
P & I FREEandCLEAR More Info
Principal & Interest: A periodic payment, usually paid monthly, that includes the interest charges for the period plus an amount applied to the reduction of the principal balance.
Mortgage Insurance FREEandCLEAR More Info
Mortgage Insurance: The monthly cost for a policy that protects the lender in case you're unable to repay the full amount of the loan. It is typically required for loans that have a loan-to-value ratio between 80% to 100%.
(Estimated)
Property Tax FREEandCLEAR More Info
Property Tax: (Also called "Real Estate Tax.") Property taxes are government assessments on real estate property. With mortgage financing, the local, county or state tax assessment on real estate property is considered part of the monthly housing obligation and typically collected and set aside by the lender ...
(Estimated)
Homeowner Insurance FREEandCLEAR More Info
Homeowner Insurance: or also commonly called hazard insurance, is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of its use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.lender ...
(Estimated)
Homeowner Association Fee More Info
Homeowner Association fee: (HOA) fees are funds that are collected from homeowners in a condominium complex to obtain the income needed to pay (typically) for master insurance, exterior and interior (as appropriate) maintenance, landscaping, water, sewer, and garbage costs.
(If Any)
Total Monthly Housing Payments
Lender Fees
Points More Info
Points Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount.
Origination Fee More Info
Origination Charge: A loan origination charge is a fee charged by the lender for evaluating, processing, and closing the loan.
Credit Report Fee More Info
Credit Report Fee: Fee charged to obtain an applicant's credit history prepared by one or all of the three major credit bureaus. Used by lender to determine the borrower's creditworthiness.
Tax Service Fee More Info
Tax Service Fee: A fee charged by the lender to cover the cost of retaining a tax service agency. These agencies monitor the property tax payments on the property and report the results to the lender.
Processing Fee More Info
Processing Fee: A processing fee is a charge by the lender for clerical items associated with the loan. Examples of processing include loan set up, organization of loan conditions for underwriting, and preparing required disclosures for the borrower.
Underwriting Fee More Info
Underwriting Fee: A fee charged by the lender to verify information on the loan application, authenticate the property's value, and perform a risk analysis on the overall loan package.
Wire Transfer Fee More Info
Wire Transfer Fee: In most cases lenders wire funds to escrow companies to fund a loan. Commercial banks that perform this function will charge the lender so the fee is generally passed on to the borrower.
(If Any)
FHA Upfront Premium More Info
FHA Upfront Premium: A fee paid in cash at the close of escrow or more commonly it is financed into the loan. These premiums are pooled together by the FHA and are used to insure the risk of borrower default on FHA loans. FHA upfront premiums are prorated over a five year period, meaning should the homeowner refinance or sell during the first five years of the loan, they are entitled to a partial refund of the FHA upfront premium paid at loan inception.
(If any)
VA funding Fee (If any)
Flood Fee
Other Fees More Info

Other fees could be either additional Administrative Fees that a lender charges or it could be a Flat Fee to cover all lender charges such as: (Origination Fees, Points, Underwriting and Processing Fees, Credit Reports and Tax Service Fees)

The flat fee does not include prepaid items and third party costs such as appraisal fees, recording fees, prepaid interest, property & transfer taxes, homeowners insurance, borrower's attorney’s fees, private mortgage insurance premiums (if applicable), survey costs, title insurance and related services.

Total Lender Fees
*Actual rates and other information may vary. Sponsored results shown only include participating lenders. The information you enter on this page will only be shared with lenders you choose to contact, either by calling the phone number or requesting a quote.
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Compare Mortgage Rates and Lenders

Review current mortgage rates for June 24, 2017 and get personalized mortgage quotes from top lenders

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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
 

Mortgage Rates by Loan Product

Loan
Current Rate
Last Week
Trend
3.750%
3.750%
2.750%
2.750%
2.750%
2.750%
3.250%
3.250%
3.250%
3.250%
3.875%
3.750%
4.125%
4.000%

Mortgage Rate Report

Saturday, June 24, 2017

Mortgage rates stabilized and continue to remain near their low for the year despite the Federal Reserve's decision to raise the its key federal funds rate .250% in its June meeting.  The Fed pointed to labor market strength as well as improved household spending and business investment in deciding to raise the target range for the federal funds rate to 1.000% to 1.250%.  The Fed also noted relatively low inflation, including a recent decline, in explaining its decision to raise its target interest rate.

Perhaps because the Fed's rate hike action was so widely anticipated, mortgage rates were mostly unchanged following the Fed's announcement, which is certainly a relief for borrowers as purchase and refinance activity continues to gain momentum.

Instead of following the Fed's lead and climbing, mortgage rates were stable across the board as compared to last week.  The interest rate for a 30 year fixed rate mortgage remained at 3.750% while the interest rate for a 15 year mortgage held steady at 2.750%.  The interest rate on a 5/1 adjustable rate mortgage (ARM) also stayed put at a low 2.750% as lenders seek to pull borrowers into shorter-termed loan products.  FHA and VA mortgage rates were both unchanged at 3.250%, remaining appealing for home buyers seeking low down payment loan options.

Bucking the trend, Jumbo mortgage rates increased .125% to 3.875% and non-owner occupied also rose .125% to 4.125%.

After a relatively turbulent first quarter of 2017, mortgage rates have been relatively stable and attractive for much of the past two months.  The trend looks to continue as we move deeper into June, especially in light of mortgage rates' non-reaction to the Fed'smove.  We are approaching six weeks of relatively stable mortgage rates that have brought a sense of calm and increased certainty to the marketplace for both borrowers and lenders. 

Although recent events reinforce that mortgage rates are impossible to predict, the Fed’s decision to increase the Fed Funds rate and the pullback in mortgage rates over the past month does not change the expectation that rates are likely to rise over the course of 2017, potentially at an accelerated pace.  In fact, the Fed reaffirmed its outlook for one more rate increase in 2017.  Prospective borrowers looking to buy a home or refinance may be able to lock in a lower interest rate by acting sooner rather than later, before mortgage rates go up again.

Because interest rates fluctuate daily, we continue to actively monitor the mortgage marketplace for changes.  Borrowers should check the FREEandCLEAR mortgage rate tables regularly to review customized, updated mortgage rates for lenders in their area.  Our rate tables are free to use and require no personal information. 

How to Compare Mortgage Rates on FREEandCLEAR

1

Customize Your Mortgage Search.

Personalize your mortgage search by selecting numerous options in the "Refine Your Search" menu including your location, loan amount, mortgage program and credit score.  Understand the difference in interest rates between a 15 and 30 year mortgage.  Select the boxes for FHA and VA loans to review rates and fees for these low / no down payment mortgage programs.  The table provides updated, real-time interest rates in response to each selection you make.  Plus, our rate tables are free to use so borrowers can run numerous scenarios to evaluate their personalized mortgage options. 

2

Compare Mortgage Rates and Fees.

Use our mortgage rate tables to compare current rates and fees for multiple lenders. Our tables put you in control by enabling you to review rates without providing any personal information. The rate tables also enable you to understand how your estimated monthly mortgage payment changes depending on the interest rate. The APR (Annual Percentage Rate), highlighted in blue, enables borrowers to more easily compare interest rates and fees using a single figure. You can also use our Mortgage Comparison Calculator to compare mortgages with different interest rates and fees to select the loan that is right for you.

3

Contact Multiple Lenders.

Just like with any other major purchase, you should shop your mortgage business to find the best offer. Contacting multiple lenders takes a little more time but can save you thousands of dollars. For example, on a $300,000 mortgage, lowering your interest rate by .125% saves you almost $8,000 in interest. FREEandCLEAR recommends that you contact three-to-four lenders to find the mortgage with the most attractive terms and our rate tables make the process easy. Simply click on a lender logo or green arrow to be directed to the lender’s web site. You can also use our Personalized Mortgage Quote form to receive personalized loan quotes from multiple lenders.

4

Select Your Lender.

When you contact lenders request that they provide you a written summary or a Loan Estimate that outlines the key terms of their mortgage proposal. Lenders will ask you some questions regarding your financial profile so that they can confirm the details of their proposal and pre-approve you for your mortgage. Please note that lenders should not charge you to provide a mortgage proposal. When speaking with lenders you should ask them questions and make sure they have the right experience to close your mortgage. Narrow your options down to a handful of lenders and negotiate the best terms possible. Comparing mortgage proposals, asking the right questions and doing a little negotiating will help ensure that you select the lender that best meets your needs.

Why Borrowers Compare Mortgage Rates on FREEandCLEAR

Save Money
Save Money.

Comparing mortgages can save you thousands. Use our rate tables to find the mortgage with the lowest rates and fees

Save Money
Borrower-Friendly.

Our rate tables put you in control. You can compare lenders anonymously plus you never need to provide your social security number

Save Money
Top Lenders.

Review mortgage rates from leading lenders. Our lenders offer highly competitive terms to win your mortgage business

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