mortgage

Mortgage rates for Nov. 27, 2013

 

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

Mortgage rates rebounded, unwinding much of last week's decline, following the release of the Federal Reserve's meeting minutes, which raised worries about an earlier tapering of bond purchases. Concerns that the Fed may start dialing back the stimulus sooner than expected pushed bond yields and mortgage rates higher.

The benchmark 30-year fixed mortgage rate increased to 4.44 percent and the jumbo 30-year fixed rate is just a touch higher at 4.45 percent. This is the narrowest difference between those two averages that has ever been recorded in Bankrate's survey.

Adjustable mortgage rates bounced back also, with the 7-year ARM rising to 3.62 percent and the 10-year ARM moving above the 4 percent mark to 4.03 percent.

Whether mortgage rates are rising or falling, always be sure to shop around for the best mortgage terms. 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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