To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/.
The average 15-year fixed mortgage rate was unchanged at 3.40 percent, while the larger jumbo 30-year fixed mortgage rate also held steady at 4.39 percent. Adjustable rate mortgages moved lower, with the 5-year ARM sliding to 3.34 percent and the 10-year ARM retreating to 3.82 percent.
Mortgage rates continue to exemplify the 'dog days of summer.' Fixed mortgage rates, and to some extent adjustable mortgage rates, have shown little movement since mid-May. Even a bevy of economic releases and a Federal Reserve meeting in the preceding week did little to jolt interest rates to life, with good economic news counteracted by global tensions. As a result, both bond yields and mortgage rates have been held in check. Mortgage rates are closely related to yields on long-term government debt.
As 2013 came to a close, the average 30-year fixed mortgage rate was 4.69 percent. At that time, a
Keywords for this news article include: Mortgage, Real Estate,
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