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 jumped for a second straight week.
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.
You've still got plenty of time. Take advantage of tax-favorable vehicles such as a 401(k) plan and IRA.
CD yields continued their erosion this week.
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).
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