Mortgage rates for Jan. 3, 2013


I'm Greg McBride with and here is your weekly look at mortgage rates.

Mortgage rates were pretty tame during the holiday season, with only slight movement posted in the past week. The benchmark 30-year fixed rate mortgage inched lower to 3.58 percent while the average 15-year fixed rate nosed higher to 2.88 percent. The larger jumbo 30-year fixed rate was also a touch higher, to 4.08 percent.

Adjustable rate mortgages were mostly lower, with the 3-year ARM reversing course to 2.93 percent and the 7-year ARM pulling back to 2.92 percent.

Relief that the fiscal cliff has been averted will likely send mortgage rates higher in the next week or so, but don't take this as the beginning of a long-standing trend. We still have a slow growth economy with high unemployment, and the debt ceiling negotiations will get started soon and are sure to be contentious. This will only serve to fuel uncertainty and volatility, both of which may end up bringing mortgage rates back down.

Let your New Year's Resolution be to find a better mortgage rate. To find the lowest mortgage rates in your area, use the free search engine at

I'm Greg McBride.


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

Flat-rate car towing as needed

Goodyear has introduced a roadside assistance program where you pay a flat rate whenever you need a tow with no annual fee.  ... Read more

Connect with us