Best 30 Year fixed mortgage Rates Today

“As there are no major economic reports coming out today, I do not expect a worsening of interest rates, ” Hillary Legrain, vice president at First Savings Mortgage in Bethesda, Maryland, tells NerdWallet.

Most observers believe the Fed will pass on a rate hike yet again, due to last Friday’s disappointing employment report. Meanwhile, more than one major lender repriced 30-year mortgages even lower overnight. If that trend continues, a slow float to the bottom, we could see all-time lows before the end of the year.

In fact, one national bank is nearly there, offering a rate less than 0.07% from the lowest national average 30-year mortgage rate on record — 3.31% on Nov. 21, 2012, according to Freddie Mac — though you would have to pay 1.375 points to get that rate.

In a survey of lenders early Friday, average rates for the most popular loan terms were:

(Change from 6/9)

30-year fixed: 3.72% APR (-0.01)

Lock or float your mortgage rate?

Legrain is looking for low mortgage rates to continue.

“Based on how stable rates have been over the past week, floating a rate right now is not necessarily inadvisable, ” Legrain says. “However, with the Fed’s upcoming announcement next week and considering that we are seeing historically low rates, locking in would be the most prudent choice.”

Of course, any decision to lock a mortgage rate should be based on the borrowers’ risk tolerance and their short- and long-term goals.

NerdWallet daily mortgage rates are an average of the lowest published APR for each loan term offered by a sampling of major national lenders. Annual percentage rate quotes reflect an interest rate plus points, fees and other expenses, providing a more accurate view of the costs a borrower might pay.

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