mortgage

Mortgage rates for March 8, 2012

 

 

Mortgage rates were little changed this week as renewed concerns about the Greek debt bailout offset continued improvement in the U.S. economic picture.

The average rate on the benchmark 30-year fixed mortgage nosed higher to 4.11% after tying a record low last week. The average 15-year fixed mortgage rate, inched lower to 3.34%, tying a record low set one month ago. The larger jumbo 30-year fixed mortgage rate held at 4.63%.

Rates for adjustable mortgage products were mixed. The 3-year and 5-year adjustable mortgages were down, to 3.21% and 3.03%, while the 10-year ARM remained at 3.61%.

A looming jobs report could reintroduce volatility to mortgage rates if it widely departs from expectations ... either on the upside or the downside. Stay tuned.

As always, to find the best rates on any type of mortgage you're looking for, just visit Bankrate.com. I'm Kristin Arnold.

 

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