mortgage

Mortgage rates for Aug. 7, 2014

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

Mortgage rates were, once again, little changed this week. The benchmark 30-year fixed mortgage rate nosed higher to 4.29 percent, while the larger jumbo 30-year fixed rate held steady at 4.39 percent.

Adjustable mortgage rates moved lower, with the five-year ARM sliding to 3.34 percent and the 10-year ARM retreating to 3.82 percent.

Mortgage rates have been living up to the old adage about the dog days of summer. Fixed mortgage rates, and adjustable mortgage rates to some extent, have shown little movement since mid-May. Even a bevy of economic releases and a Federal Reserve meeting in the preceding week did little to jolt mortgage rates to life, with good economic news counteracted by global tensions.

Even if mortgage rates aren't showing much movement, you still need to shop around to get 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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