Mortgage rates for Oct. 20, 2011



Mortgage rates are slow and steady as they go this week, barely changing from last week after recently bouncing up from historical low levels.

The 30-year fixed-rate mortgage rose 1 basis point to 4.38 percent.

The 15-year fixed-rate fell 1 basis point to 3.58 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 4.89 percent, down 1 basis point from last week.

The volume of mortgage applications decreased 14.9 percent last week from one week earlier, according to the Mortgage Bankers Association's weekly survey.

If you qualify for a mortgage, now is the time to buy. Although mortgage rates won't stay this low forever, borrowers won't be seeing a great increase for a long time. If you're on the fence about purchasing a home, you can always shop around for the best rates and information by visiting I'm Kristin Arnold.



Show Bankrate's community sharing policy
          Connect with us

A little research could save you BIG on interest.

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


Tara Baukus Mello

Most kids out of boosters too soon

A new study found that 90 percent of parents are letting their children ride in a seatbelt without a booster seat before it is safe for them to do so.  ... Read more

Connect with us