Interest Rate Roundup
Interest Rate Roundup

Here's a look at the state of mortgage rates from's weekly national survey of large banks and thrifts conducted Jan. 20, 2010.


Rate: 5.15 percent (30-year fixed) Average Points: 0.45

Mortgage rates fell for the third consecutive week.

The average 30-year fixed-rate mortgage slid 8 basis points, to 5.15 percent. A basis point is one-hundredth of a percentage point.

Meanwhile, this week's average 15-year fixed-rate -- a popular option for refinancing – dropped 6 basis points, to 4.56 percent.

The average jumbo 30-year fixed fell 4 basis points, to 5.93 percent.

Adjustable-rate mortgages also declined. The one-year adjustable-rate mortgage edged down 2 basis points, to 4.92 percent. Meanwhile, the popular 5/1 ARM sank 5 basis points, to 4.63 percent.

Mortgage applications rose a seasonally adjusted 9.1 percent when compared to a week earlier, according to the Mortgage Bankers Association. For the week ending Jan. 15, refinancing activity surged 10.7 percent, while applications for new purchase increased 4.4 percent.

See all interest rates content.

-- Chris Kissell


Show Bankrate's community sharing policy
          Connect with us

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


Holden Lewis

What are HUD’s priorities?

The new housing secretary delivered his first major speech since taking office. What's his top priority? He doesn't say.  ... Read more

Partner Center

Connect with us