mortgage

Mortgage rates for June 14, 2012

 

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

Mortgage rates moved slightly this week, but it was enough to push the average 30-year fixed mortgage rate to the third new record in a row of 3.91 percent.

On other mortgage products, the results were mixed with some inching higher and others slipping a tad. But this was not a week of drastic moves in any case.

The average 15-year fixed rate mortgage inched higher for a second week in a row to 3.17 percent, while the larger jumbo 30-year fixed mortgage increased from last week's record low, to 4.48 percent.

Results were equally mixed on adjustable mortgage products, with the 3-year ARM slipping to 3.08 percent, while the 5-year and 7-year ARMs both ticked higher, to 3 percent and 3.14 percent, respectively.

The uncertainty surrounding the European debt crisis will continue to keep a lid on mortgage rates and be a primary catalyst for further rate volatility in the weeks ahead.

Whether you're buying a home or refinancing the one you already own, it is important to shop around for the best deal. 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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