mortgage

National mortgage rates for March 8, 2012

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

Mortgages

  • 4.11% (30-year fixed)
  • 0.39 (average points)

Mortgage rates remained stable this week as the government announced new efforts to spur refinancing.

The 30-year fixed-rate mortgage rose 1 basis point to 4.11 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate fell 1 basis point to 3.34 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 4.63 percent, the same as last week.

The 5/1 adjustable-rate mortgage fell 1 basis point 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 1.2 percent last week, compared to one week earlier, according to the Mortgage Bankers Association.

 

 

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