mortgage

Interest Rate Roundup for Nov. 10, 2011

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

Mortgages

  • 4.25% (30-year fixed)
  • 0.35 (average points)

Mortgage rates moved slightly higher this week as investors panicked over Italy's debt crisis.

The 30-year fixed-rate mortgage rose 2 basis points to 4.25 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate rose 2 basis points to 3.5 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 5 basis points to 4.76 percent.

The 5/1 ARM fell 2 basis points to 3.16 percent. With a 5/1 ARM the rate is fixed for five years and adjusted annually thereafter.

 

 

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