mortgage

Mortgage Rates for June 9, 2011

 

 

(Voice of Bankrate.com reporter, Kristin Arnold talking)
Mortgage rates continue their eight week slide, hitting new lows for 2011. The average rate on a 30-year fixed-rate mortgage inched downward to 4.65 percent ... dropping four basis points. The popular 15-year fixed-rate mortgage also fell 9 basis points to 3.79 percent.
Another fixed-rate product, the 30-year jumbo mortgage, averaged 5.19 percent, actually going up 3 basis points.
With continued reports on a barely recovering job market and ongoing weakness in the housing market ... even with record low mortgages rates -- people just don't feel confident enough to buy or simply can't.
Federal Reserve Chairman Ben Bernanke said in a speech on Tuesday that the economic recovery appears to be continuing at a moderate pace, but "at a rate that is both uneven across sectors and frustratingly slow from a perspective of millions of unemployed and underemployed workers."

Of course, if the time and price is right for you -- your smartest move is to shop for the best mortgages rates by visiting Bankrate.com. I'm Kristin Arnold.

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Mustang car tops Empire State

The Ford Mustang just turned 50, and both Ford Motor Co. and Mustang owners are celebrating.  ... Read more


Connect with us