mortgage

Interest Rate Roundup for Feb. 16, 2012

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

Mortgages

  • 4.1% (30-year fixed)
  • 0.35 (average points)

Mortgage rates fell and reached a new record low this week as investors worry about the debt crisis in Greece.

The 30-year fixed-rate mortgage fell 4 basis points to 4.1 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate fell 1 basis point to 3.35 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, rose 1 basis point to 4.56 percent.

The 5/1 ARM fell 2 basis points to 3.03 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

The volume of mortgage applications decreased 1 percent last week compared to one week earlier, according to the Mortgage Bankers Association.

 

 

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

Borrowers get $2.5B from Citi

About $2.5 billion of Citi's $7 billion settlement will go to consumers  ... Read more

advertisement
Partner Center
advertisement

Connect with us