Mortgage rates for July 31, 2014

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

Mortgage rates were little changed this week, extending the recent trend. The benchmark 30-year fixed mortgage rate held at 4.28 percent, while the 15-year fixed mortgage rate popular for refinancing ticked lower to 3.4 percent. The larger jumbo 30-year increased to 4.39 percent.

Adjustable rate mortgages were slightly higher, with the three-year ARM rising to 3.25 percent and the five-year ARM inching up to 3.38 percent.

Mortgage rates remain in a holding pattern, showing very little movement one way or the other. And its been this way for a while. The benchmark 30-year fixed mortgage rate has fluctuated within a very narrow range -- just one-tenth of a percentage point -- since mid-May. But as history has shown, these prolonged periods of stability in bond yields and mortgage rates often end suddenly, with a significant bout of volatility.

Regardless of where rates are, or which direction they may be moving, it is always important to shop around for the best mortgage terms. To find the lowest mortgage rates in your area, use the free search engine at

I'm Greg McBride.


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