mortgage

Interest Rate Roundup for Jan. 12, 2012

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

Mortgages

  • 4.18% (30-year fixed)
  • 0.33 (average points)

Mortgage rates remained at record lows this week as investors sought safety in the U.S.

The 30-year fixed-rate mortgage was 4.18 percent, unchanged from last week.

The 15-year fixed-rate fell 2 basis points to 3.38 percent. A basis point is one-hundredth of 1 percentage point . The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 2 basis points to 4.6 percent.

The 5/1 ARM fell 15 basis points to 3.04 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

The volume of mortgage applications increased 4.5 percent last week compared to one week earlier, according to the Mortgage Bankers Association.

 

 

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