I'm Lucas Wysocki with your weekly look at mortgage rates. Mortgage rates continue their march to the bottom with the 30-year fixed-rate mortgage falling to 3.52 percent. The 15-year fixed-rate mortgage, popular for refinancing, fell 4 basis points to 2.84 percent and the 30-year jumbo mortgage also dropped to 4.16 percent.
On adjustable rate mortgages the average 5/1 ARM dropped to 2.67 percent.
Mortgages are still feeling the effects of the Federal Reserve's QE3 announcement. Even a record high volume of refinance applications couldn't do much to slow down the falling mortgage rates. Homebuyers are definitely taking note, the mortgage bankers association reported a 16.6 percent increase in mortgage applications last week, compared to one week earlier.
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