Interest Rate Roundup
mortgage
Interest Rate Roundup

Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Nov. 10, 2009.

Mortgages

Rate: 5.19 percent (30-year fixed) Average Points: 0.38

Thirty-year fixed-rate mortgages plunged to their lowest levels since spring while the jumbo rate fell to a multiyear low.

Mortgage Rates

The average 30-year, fixed-rate mortgage slid 16 basis points, to 5.19 percent. A basis point is one-hundredth of a percentage point. Rates are now at their lowest point since mid-April. The all-time record low in the 24-year-old Bankrate survey is 5.13 percent, which occurred April 1.

Meanwhile, this week's average 15-year fixed-rate -- a popular option for refinancing -- fell 11 basis points, to 4.61 percent.

The average jumbo, 30-year fixed plunged 26 basis points, to 6.24 percent. The jumbo is now at its lowest level since October 2005.

Adjustable-rate mortgages were split this week. The one-year adjustable-rate mortgage jumped 10 basis points, to 5.37 percent. Meanwhile, the popular 5/1 ARM dipped 6 basis points, to 4.58 percent.

To find and compare mortgage rates in your area, visit Bankrate's interactive search tool.

-- Chris Kissell

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

Polyana da Costa

Lame jobs report great for borrowers

The August employment report was a disaster, but that's good news for those looking to get a mortgage.  ... Read more

advertisement
Partner Center
advertisement

Connect with us