mortgage

Mortgage rates for April 25, 2013

 

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

Mortgage rates were lower for a sixth straight week, with the benchmark 30-year fixed-rate mortgage falling to a four-month low of 3.57 percent. The news was even better on the 15-year fixed mortgage, which set a new record low of 2.8 percent. The larger jumbo 30-year fixed mortgage held at 3.98 percent.

Adjustable mortgages, for the most part, inched lower. The five-year adjustable settled at a new low of 2.65 percent, the seven-year held at 2.87 percent, and the 10-year dipped to a three-month low of 3.21 percent.

Mortgage rates continue to trend lower as uneven economic data have raised concerns about another economic slowdown. The accompanying stock market volatility has also been good for mortgage rates by increasing demand for both government- and mortgage-backed bonds.

Be sure you're shopping around for the best mortgage terms, no matter which way mortgage rates are moving. To find the lowest mortgage rates in your area, use the free search engine at Bankrate.com.

I'm Greg McBride.

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