mortgage

Mortgage rates for July 3, 2014

Our typical mortgage rate fluctuations seemed to be taking an early Fourth of July vacation, as we saw very little movement this week. I'm Doug Whiteman with your weekly look at mortgage rates.

The benchmark 30-year fixed-rate mortgage stayed at 4.28 percent, according to the Bankrate.com national survey of large lenders.

The 15-year fixed-rate mortgage rose just 1 basis point to 3.4 percent.

The 30-year fixed-rate jumbo slipped to 4.29 percent from 4.31 percent.

And the 5/1 adjustable-rate mortgage was 3.33 percent, unchanged from last week.

Rates have stayed in a tight range for several weeks now. That's great news for those hoping to grab a low mortgage rate, but borrowers shouldn't stay on the fence waiting for a better deal. Rates can move fast and without much warning, so better to rate-lock once you receive an offer you're comfortable with.

Whether rates are moving up or down or, like this week, staying the same, it's always a good idea to shop around. You can do that using the free rate search engine on Bankrate.com. I'm Doug Whiteman.

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