National mortgage rates for June 28, 2012

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  • 3.89% (30-year fixed)
  • 0.44 (average points)

Mortgage rates stayed at record lows this week.

The 30-year fixed-rate mortgage was 3.89 percent, which tied last week's record. The fixed rate has not increased in nearly three months, according to Bankrate's weekly survey.

The 15-year fixed-rate mortgage was 3.16 percent, unchanged from last week. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 4.48 percent, the same as last week.

The 5/1 adjustable-rate mortgage rose 5 basis points to 3.02 percent. A basis point is one-hundredth of 1 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

The volume of mortgage applications decreased 7.1 percent last week compared to one week earlier, according to the Mortgage Bankers Association.




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