Mortgage Rates for July 7, 2011



I'm Greg McBride, senior financial analyst with and here is your weekly look at mortgage rates.

Mortgage rates increased for the second week in a row and the third time in the last four weeks. Better economic news and an easing of concerns about a potential Greek debt default spurred this week's move, pushing mortgage rates to a 2-month high.

The average 30-year fixed rate mortgage climbed to 4.79 percent, the highest since mid-May, while the average 15-year fixed was up more modestly to 3.9 percent. Rates for adjustable mortgage products were also higher, with the 5/1 ARM rising to 3.49 percent - a rate that is fixed for the first 5 years before adjusting annually thereafter.

Mortgage rate volatility could pick up in the coming weeks as investors grapple with the state of the US economic recovery, quarterly corporate earnings, and a deadline for increasing the debt ceiling.

No matter which way mortgage rates are moving, it's important to shop around for the best deal. To find the lowest mortgage rates in your area, be sure to go to

I'm Greg McBride.



Show Bankrate's community sharing policy
          Connect with us

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.


Crissinda Ponder

Borrowers more satisfied with lending process

A new J.D. Power study shows that consumers are more satisfied overall with mortgage origination this year than in 2014.  ... Read more

Partner Center

Connect with us