Interest Rate Roundup
mortgage
Interest Rate Roundup

Here's a look at the state of mortgage rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Dec. 9, 2009.

Mortgages

Rate: 5.04 percent (30-year fixed) Average Points: 0.43

Mortgage rates edged up for the second straight week.

The average 30-year fixed-rate mortgage rose 3 basis points, to 5.04 percent. A basis point is one-hundredth of a percentage point.

Meanwhile, this week's average 15-year fixed-rate -- a popular option for a refinance -- rose 1 basis point, to 4.47 percent.

The average jumbo 30-year fixed fell 2 basis points, to 6 percent.

Adjustable-rate mortgages also moved higher. The one-year adjustable-rate mortgage rose 5 basis points, to 5.39 percent. Meanwhile, the popular 5/1 ARM increased 3 basis points, to 4.55 percent.

Mortgage applications rose a seasonally adjusted 8.5 percent when compared to a week earlier, according to the Mortgage Bankers Association.

For the week ending Dec. 4, applications for new purchase rose 4 percent, while refinancing activity was up 11.1 percent.

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

See all interest rates content.

-- Chris Kissell

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