I'm Greg McBride, senior financial analyst with Bankrate.com and here is your weekly look at mortgage rates.
It was another week of pretty tame movement in mortgage rates. Fixed mortgage rates inched lower, with the 30-year fixed rate now at 4.24 percent and the 15-year fixed down to 3.47 percent. On larger loans, the jumbo 30-year fixed rate inched higher off last week's record low to 4.77 percent.
Rates on adjustable mortgages were mixed, with the hybrid 3/1 adjustable dipping to 3.45 percent while the 5-year, 7-year, and 10-year adjustable each increased modestly.
Although mortgage rates have been very sedate in recent weeks, the key catalyst for volatility remains the European debt crisis. The situation remains very fluid and the outcome is far from certain. On a more positive note, the tone of economic data in the U.S. has been more upbeat lately, but not so much as to push mortgage rates higher.
To find the lowest mortgage rates in your area, use the free search engine at Bankrate.com.
I'm Greg McBride.