Mortgage rates for Sept. 22, 2011



Mortgage rates dropped again this week, as the Federal Reserve announced the much anticipated Operation Twist, which analysts say should help keep rates low for now.

The 30-year fixed-rate mortgage fell 3 basis points, to 4.29 percent. This is the lowest rate level the fixed rate has reached since Bankrate started the weekly mortgage survey 26 years ago.

The 15-year fixed-rate fell 2 basis points to 3.42 percent. The average rate for 30-year jumbo mortgages, was 4.85 percent, up 2 basis points from last week's rate.

The Federal Reserve embarked on Operation Twist today. The FED announced it will buy more treasury securities with maturities of 6 to 30 years. Twists intent is to bring down long-term interest rates even furthe ... to spur more borrowing.

Of course if you're in the market for a home - the best place to shop for interest rates…is right here at I'm Kristin Arnold.




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