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Mortgage rates in Milwaukee, Wisconsin

By Claes Bell · Bankrate.com
Friday, August 11, 2017
Posted: 10 am ET

A number of closely-watched mortgage rates held steady in the Milwaukee area this week.

Benchmark 30-year rate stays flat in Milwaukee

The average rate on the benchmark 30-year fixed-rate mortgage rate for the Milwaukee area remained at 3.92 percent, according to Bankrate's national survey of large lenders.

In this week's survey, the mortgages had an average of 0.06 discount and origination points.

With the most popular mortgage rate frozen in place, it's neither good news nor bad news for potential borrowers who were waiting to lock a mortgage rate.

Monthly payments on a hypothetical $165,000 30-year fixed-rate mortgage were also consistent, staying at $780.14.

No clear direction for other Milwaukee mortgage types

The average rate for 15-year fixed-rate mortgages stayed put, remaining at 3.15 percent. Monthly payments on a hypothetical $165,000 15-year fixed-rate mortgage held, staying at $1,151.40.

The 15-year fixed is a popular mortgage for homeowners who want to refinance. Rates standing still won't help or hurt for refinancers thinking about locking soon.

The benchmark 5/1 adjustable-rate mortgage rate stood at 3.37 percent this week. The most common variety of variable-rate mortgage, 5/1 ARMs allow property owners to pay a fixed rate for the first 5 years, and the rate adjusts once per year every year after.

Compare mortgage rates in your area now.

Weekly mortgage survey

Results from Bankrate's survey of mortgage lenders conducted August 9, 2017. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $ in the Milwaukee area.
30-year fixed 15-year fixed 5-year ARM
This week's rate: 3.92% 3.15% 3.37%
Change from last week: N/C N/C N/C
Monthly payment: $780.14 $1,151.40 $729.00
Change from last week: N/C N/C N/C

Methodology: The "Bankrate.com National Average," or "national survey of large lenders," is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the Bankrate.com national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison.

To learn more about the different rate averages Bankrate publishes, see "Understanding Bankrate's Rate Averages."

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