mortgage

Mortgage rates for Oct. 6, 2011

 

 

Mortgage rates dropped this week, and the most popular type of mortgage hit a new record low.

The 30-year fixed-rate mortgage fell 9 basis points to 4.21 percent.

The 15-year fixed-rate fell 1 basis point to 3.46 percent. The average rate for 30-year jumbo mortgages was 4.82 percent, down 5 basis points from last week's rate.

Despite the super-low rates, the volume of mortgage applications decreased 4.3 percent last week from one week earlier, according to the Mortgage Bankers Association weekly survey.

If you're in the market for a home ... you can research the best mortgages rates, right here, at Bankrate.com. I'm Kristin Arnold.

 

 

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