mortgage

Interest Rate Roundup for Sept. 29, 2011

Interest Rate Roundup
Mortgage rate graph
Find the best mortgage rates in your area.

Mortgages

  • 4.3% (30-year fixed)
  • 0.37 (average points)

Mortgage rates inched up this week, as investors kept their eyes on Europe's debt woes.

The 30-year fixed-rate mortgage rose 1 basis point to 4.3 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate mortgage rose 5 basis points to 3.47 percent. The average rate for 30-year jumbo mortgages, which are generally loans of more than $417,000, was 4.87 percent, up 2 basis points from last week's rate.

The 5/1 ARM rose 8 basis points to 3.13 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

The volume of mortgage applications surged 9.3 percent from one week earlier, according to the Mortgage Bankers Association weekly survey.

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

Blog

Judy Martel

Bid for a home with $1,000

Detroit is auctioning off vacant homes for a song, but winning bidders should be prepared for sweat equity.  ... Read more

advertisement
Partner Center
advertisement

Connect with us