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 Feb. 10, 2010.

Mortgages

Rate: 5.15 percent (30-year fixed) Average Points: 0.44

Mortgage rates did not budge this week.

The average 30-year fixed-rate mortgage stood at 5.15 percent for the second straight week, and third week in the past four. 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 3 basis points, to 4.52 percent.

The average jumbo 30-year fixed fell 5 basis points, to 5.95 percent.

Adjustable-rate mortgages split this week. The one-year adjustable-rate mortgage dropped 3 basis points, to 4.89 percent. Meanwhile, the popular 5/1 ARM remained unchanged at 4.56 percent.

Mortgage applications fell a seasonally adjusted 1.2 percent when compared to a week earlier, according to the Mortgage Bankers Association. For the week ending Feb. 5, refinancing activity increased 1.4 percent, while applications for new purchase sank 7 percent.

In other mortgage-related news, some housing markets are showing early signs of a double-dip in price declines, according to the real estate Web site Zillow.com.

Many markets that had recorded a series of monthly price gains in 2009 -- including Atlanta, Baltimore, Boston, Denver, Minneapolis and Portland, Ore. -- saw values begin to fall again in December.

Overall, 29 of 143 markets nationwide recorded price-flattening or declines in December, after chalking up at least five consecutive months of price increases earlier in 2009.

See all interest rates content.

-- Chris Kissell

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