mortgage

Mortgage Rates for June 30, 2011

 

 

Bankrate.com's national survey found the typical 30-year fixed-rate mortgage had an interest rate of 4.71 percent this week, up 5 basis points from last week.

Other fixed-rate mortgages took a similar track. The 15-year fixed mortgage was at 3.86 percent, compared to 3.83 percent a week earlier.

An exception was jumbo mortgages, which dropped 2 basis points, settling at 5.21 percent.

Mortgage rates frequently move in the same direction as U.S. Treasury securities, and rates on long-term government bonds rose across the board in the last week.

Although it is too soon to determine if housing has finally hit bottom, according to the S&P/ Case-Shiller Home Price Index, home prices were up just under 1 percent from March to April. However, prices are still several percentage points below where they were in April 2010.

If you're in the market for a home - visit Bankrate.com to find the best rates. I'm Kristin Arnold.

 

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