mortgage

Mortgage rates for Dec. 15, 2011

 

 

I'm Kristin Arnold with Bankrate.com and here is your weekly look at mortgage rates.

Mortgage rates haven't moved much since the beginning of November, but this week's move was enough to push fixed mortgage rates back into record-low territory. The average 30-year fixed rate mortgage fell to 4.19 percent and the 15-year fixed rate mortgage tied a record low of 3.42 percent.

Adjustable rate mortgages were mixed, with the average 3-year adjustable holding at 3.49 percent and the 5-year ARM rising to 3.21 percent.

Continued uneasiness about the European debt crisis, ongoing political wrangling about the payroll tax cut extension, and no indication of forthcoming stimulus from the Fed collectively brought mortgage rates lower. The notably better economic data in recent months has gone largely unnoticed as Europe's crisis still holds sway in financial markets, keeping mortgage rates at record lows.

To find the lowest mortgage rates in your area, use the free search engine at Bankrate.com.

I'm Kristin Arnold.

 

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