I'm Lucas Wysocki with your weekly look at mortgage rates. Mortgage rates ticked lower this week, but not as low as the record lows we saw just a few weeks ago. The 30-year fixed rate mortgage came in at 3.61 percent. The 15-year fixed rate also lost ground slipping to 2.9 percent and the 30-year jumbo dropped to 4.17 percent. All three lost just 1 basis point since last week.
On the adjustable side, the 5/1 ARM rose 1 basis point to 2.73 percent.
Those about to complete a refinance or home purchase probably have the presidential election on their minds. Mortgage rates tend to shift in the weeks after an election as financial markets try to predict what the new administration's policies will do for the economy. As of right now it's anyone's guess at whether rates will go up or down in a few weeks, but with rates in the 3 to 4 percent range, it's certainly not a bad time to be closing.
No matter what, it's going to pay off to shop around. You can do that right here at Bankrate.com. I'm Lucas Wysocki.
Mortgage rates moved higher after better-than-expected news about jobs.
Mortgage rates declined across the board this week.
Mortgage rates fell for the sixth straight week.
Mortgage rates fell for the fifth consecutive week.
Mortgage rates fell to a three-month low.
Finding a trusted financial adviser can be well worth the fees in the long run.
Follow these tips to choose from the many different funds to invest in for your 401(k).
Here are some ways to get organic foods you want without breaking your budget.
Food costs eating up your budget? Try growing your own produce.
Planning, clipping and budgeting can save you money on your food bill.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
Feeling lost in the mortgage wilderness?