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Current mortgage rates - June 25, 2016

 

The afternoon numbers are in: the Brexit vote has caused mortgage rates to decline through the first half of Friday. Between the close of business Thursday and 1 p.m. Friday, the overall average rate for 30-year fixed-rate mortgages fell by 0.05% to 3.65%, while the 15-year fixed-rate fell 0.12% to 2.95%. We expect that mortgage rates will continue to trend downward as the day continues, and we should see some residual declines come Monday morning. For more on Brexit, be sure to read the Market Trends Newsletter which will be emailed to subscribers this evening and will be live on the site Monday morning. The Market Trends is free so sign up today.

Loan Current Previous
30-year Fixed *
3.70 3.69
15-year Fixed *
3.07 3.10
1-year ARM
2.65 2.61
* Conforming, Expanded Conforming, and Jumbo Rates.
Time Range: 1m | 6m | 1y

Current Mortgage Rates

30 Year Fixed Mortgage Rates from 3.250%
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3.250% Rate

30 Yr. Fixed

3.364% APR

$1,523 / month (est)

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3.750% Rate

30 Yr. Fixed

3.945% APR

$1,621 / month (est)

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Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
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3.500% Rate

30 Yr. Fixed

3.666% APR

$1,572 / month (est)

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National LenderFHA Approved LenderVA Approved LenderMember of BBBLow Fees
  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in California.
  • These rates won't last. Call now and lock-in your low rate!
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3.875% Rate

30 Yr. Fixed

3.904% APR

$1,646 / month (est)

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  • Direct Mortgage Lender. NMLS ID #1168.
  • State License #4130574
  • Apply Online. Quick Prequalification.
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15 Year Fixed Mortgage Rates from 2.500%
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2.500% Rate

15 Yr. Fixed

2.703% APR

$2,334 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
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2.875% Rate

15 Yr. Fixed

3.216% APR

$2,396 / month (est)

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Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
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2.750% Rate

15 Yr. Fixed

3.010% APR

$2,375 / month (est)

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National LenderFHA Approved LenderVA Approved LenderMember of BBBLow Fees
  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in California.
  • These rates won't last. Call now and lock-in your low rate!
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2.875% Rate

15 Yr. Fixed

2.926% APR

$2,396 / month (est)

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  • Direct Mortgage Lender. NMLS ID #1168.
  • State License #4130574
  • Apply Online. Quick Prequalification.
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5/1 Year ARM Mortgage Rates from 2.500%
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2.500% Rate

5/1 Yr. ARM

2.852% APR

$1,383 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
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3.250% Rate

5/1 Yr. ARM

3.215% APR

$1,523 / month (est)

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Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
Call Now

2.750% Rate

5/1 Yr. ARM

3.025% APR

$1,429 / month (est)

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National LenderFHA Approved LenderVA Approved LenderMember of BBBLow Fees
  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in California.
  • These rates won't last. Call now and lock-in your low rate!
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3/1 Year ARM Mortgage Rates from 2.375%
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2.375% Rate

3/1 Yr. ARM

2.981% APR

$1,360 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
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7/1 Year ARM Mortgage Rates from 2.625%
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2.625% Rate

7/1 Yr. ARM

2.872% APR

$1,406 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
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3.375% Rate

7/1 Yr. ARM

3.314% APR

$1,547 / month (est)

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Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
Call Now

3.000% Rate

7/1 Yr. ARM

3.132% APR

$1,476 / month (est)

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National LenderFHA Approved LenderVA Approved LenderMember of BBBLow Fees
  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in California.
  • These rates won't last. Call now and lock-in your low rate!
Call Now

20 Year Fixed Mortgage Rates from 3.000%
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3.000% Rate

20 Yr. Fixed

3.214% APR

$1,941 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
Call Now

3.750% Rate

20 Yr. Fixed

4.022% APR

$2,075 / month (est)

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Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
Call Now

3.250% Rate

20 Yr. Fixed

3.523% APR

$1,985 / month (est)

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National LenderFHA Approved LenderVA Approved LenderMember of BBBLow Fees
  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in California.
  • These rates won't last. Call now and lock-in your low rate!
Call Now

3.625% Rate

20 Yr. Fixed

3.665% APR

$2,052 / month (est)

Learn More
  • Direct Mortgage Lender. NMLS ID #1168.
  • State License #4130574
  • Apply Online. Quick Prequalification.
Call Now

10 Year Fixed Mortgage Rates from 2.500%
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2.500% Rate

10 Yr. Fixed

2.797% APR

$3,299 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
Call Now

2.750% Rate

10 Yr. Fixed

3.246% APR

$3,339 / month (est)

Learn More
Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
Call Now

2.750% Rate

10 Yr. Fixed

3.052% APR

$3,339 / month (est)

Learn More
National LenderFHA Approved LenderVA Approved LenderMember of BBBLow Fees
  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in California.
  • These rates won't last. Call now and lock-in your low rate!
Call Now

2.750% Rate

10 Yr. Fixed

2.824% APR

$3,339 / month (est)

Learn More
  • Direct Mortgage Lender. NMLS ID #1168.
  • State License #4130574
  • Apply Online. Quick Prequalification.
Call Now

FHA 30 Year Mortgage Rates from 3.000%
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3.000% Rate

FHA 30 Yr.

3.112% APR

$1,476 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
Call Now

3.375% Rate

FHA 30 Yr.

3.562% APR

$1,547 / month (est)

Learn More
Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
Call Now

3.250% Rate

FHA 30 Yr.

3.404% APR

$1,523 / month (est)

Learn More
National LenderFHA Approved LenderVA Approved LenderMember of BBBLow Fees
  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in California.
  • These rates won't last. Call now and lock-in your low rate!
Call Now

FHA 15 Year Mortgage Rates from 2.500%
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2.500% Rate

FHA 15 Yr.

2.773% APR

$1,383 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
Call Now

2.750% Rate

FHA 15 Yr.

3.223% APR

$1,429 / month (est)

Learn More
Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
Call Now

2.750% Rate

FHA 15 Yr.

3.080% APR

$1,429 / month (est)

Learn More
National LenderFHA Approved LenderVA Approved LenderMember of BBBLow Fees
  • Direct Lender. We can approve and fund loans in less than 30 days.
  • Get a free and no obligation rate quote in California.
  • These rates won't last. Call now and lock-in your low rate!
Call Now

VA 30 Year Mortgage Rates from 3.000%
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3.000% Rate

VA 30 Yr.

3.151% APR

$1,476 / month (est)

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Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
Call Now

3.250% Rate

VA 30 Yr.

3.531% APR

$1,523 / month (est)

Learn More
Member of BBBNational LenderExtended Support HoursVA Approved LenderFHA Approved Lender
  • We close our loans FAST - many in 30 days or less!
  • Rates are still incredibly low! Lock in a low rate and payment today.
  • Why pay more for your home than you have to? Check out rates now.
Call Now

VA 15 Year Mortgage Rates from 2.500%
View Rates

2.500% Rate

VA 15 Yr.

2.843% APR

$1,383 / month (est)

Learn More
Member of BBBNational LenderLow FeesImmediate Rate LockVA Approved Lender
  • $1,000 Best Rate Guarantee
  • Get online rates, payments and a Good Faith Estimate
  • Skip the salesman. Keep the commission!
Call Now

Mortgage rates tailored for you
  • Free mortgage rate quotes
  • Compare rates from up to 5 lenders
  • Select the personalized loan program that suits you best
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RateZip
  • Fixed Mortgage Rates
  • Lower Refinance Rates, Find New Quotes
  • (2.75% APR)
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California Interest Rates as low as 2.63% (3.21APR)
  • Get your Free Quote in Minutes!
  • Lenders Compete for your Business
  • Do you have the Lowest Rate Possible? Find Out Instantly!
  • Lock in a Low Fixed Rate Before Rates Increase!
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VA Loans for California Veterans
  • Check your 2016 VA Home Loan Eligibility Here!
  • VA Loans = No Mortgage Insurance
  • Active or Retired VA Programs Available
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VA Loans for California Veterans
  • Check your 2016 VA Home Loan Eligibility Here!
  • VA Loans = No Mortgage Insurance
  • Active or Retired VA Programs Available
  • Zero Down and Low Interest Rates
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Mortgage choices at a glance

Loan type/terms
Fixed 30 years
Fixed 15 years/20 Years
Hybrid ARM
Traditional ARM
Balloon Mortgage
Rate changes
Never; fully fixed for entire term
Never; fully fixed for entire term
Usually after fixed period of 3, 5, 7 or 10 years, then annual change typical
Fully variable, typically changing at one-year intervals; some have shorter change intervals
Never; fully fixed for entire term
Benefits
Low, stable payment; usually easiest qualification
Stable payments; builds equity faster; lower total interest costs than 30-year term
Lower rates than fully fixed-rate mortgage; can sometimes borrow larger loan amount for same income
Can have lowest interest rates, but qualification may not depend upon today's interest rate
Often has lower interest rate/monthly payment over balloon period than fixed rate; similar to hybrid ARM
Drawbacks/Risks
Can have highest total interest cost over time; user may "buy" more rate stability than actually needed, increasing cost
Requires higher income to qualify; less affordable monthly payment; funds commited to payment cannot be used elsewhere
Stable payment for a number of years, then unpredictable; rates can jump by as much as 6 percentage points at first adjustment
Payments fluctuate at each rate change; unpredictable, rates can change as much as 2 percentage points at each adjustment
Loan fully due and payable when balloon period ends; must be paid off or refinanced in unknown market conditions
Alternative strategy
Consider Hybrid ARM with appropriate fixed period
Consider 30-year term and prepaying loan to preserve cash-flow flexibility
Consider Fixed rate mortgage or longest possible fixed period, if loan hold period not known
Consider Hybrid ARM to ameliorate rate and payment risks for a given period
Consider Hybrid ARM to ensure continued loan availability
These may be useful for...
Purchasing a home; first-time homebuyers; refinancing to improve cash flow/lower payment
Refinancing to lower total interest cost; retiring mortgage more quickly; building or rebuilding equity more quickly
Purchasing or refinancing when time horizon is seven years or shorter, and where borrower can handle increase in monthly payments
Purchasing or refinancing when interest rates are near top of cycle, and are likely to fall, or sale or refinance is anticipated within three years
Purchasing or refinancing when time horizon is three years or longer and home will be sold prior to end of balloon period
Consider if
Buying or refinancing a home and planning on owning for longer than 10 years
Buying second home; refinancing to build equity; paying off mortgage before life event (retirement, etc)
Buying a home and expect to move before fixed period ends, or know income will rise to offset payment risk, even in worst-case scenario
Buying or refinancing when income can handle frequent payment changes and worst-case scenario for rates over a four-year period
Buying a home and expect to move before balloon period ends, or have resources to pay off mortgage if refinance not available
When shopping, ask about
"Full cost" vs. "No cost" refinances, prepaying loan to shorten term if desired
If 20-year term makes payment too high, whether 25-year term is available
Interest rate caps, for first and subsequent adjustments, worst-case scenario
A history of the Index the loan is keyed off, margin and caps
Whether or not there is any built-in refinancing option when the balloon period ends

Latest Mortgage Rate Analysis

Mortgage rates radar 06/21/2016 : Mortgage rates creep lower

Jun 21, 2016

HSH.com releases its latest Weekly Mortgage Rates Radar showing another decline in popular mortgage rates in the seven-day period ending June 21, as concerns about this week's so-called "Brexit" vote is keeping investors on their toes. The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).

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Hsh.com on the latest move by the federal reserve

The Federal Reserve concluded a meeting today with no change to the federal funds rate and no changes to other monetary policy tools.... Read More

Mortgage Rate Trends


vs. vs.
State
From To
30-Year-FRM
15-Year-FRM
30-Year-5-1-ARM
Mortgage Rates for California