mortgage

Mortgage rates for July 25, 2013

 

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

Following two months of volatility, mortgage rates settled down, with only slight movement over the past week. The benchmark 30-year fixed mortgage rate slipped to 4.54 percent, while the larger jumbo 30-year rate pulled back to 4.69 percent. The 15-year fixed rate fell to 3.61 percent.

Adjustable-rate mortgages were mixed. The popular five-year adjustable rate fell for the second straight week, dipping to 3.54 percent. The seven-year and 10-year adjustable-rate mortgages both notched higher, to 3.9 percent and 4.1 percent, respectively.

The tame movement in mortgage rates may prove to be only a brief reprieve, however. With next week bringing a Federal Reserve Board meeting and a new report on the job market, this week may have been the calm before the storm.

Whether mortgage rates are moving up or down, it's still important to shop around for the best mortgage terms. 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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