Interest Rate Roundup

July 30 - Aug. 5


	Each week, Bankrate takes a look at the state of interest rates on five banking

	products from Bankrate.com's weekly national survey of large banks and thrifts.

By Bankrate.com

Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted April 16, 2008.

Interest Rate Roundup

Mortgages

Rate: 6.03 percent (30-year fixed) Average points: 0.31

Mortgage rates were mixed this week, with the 5/1 ARM continuing to fall rapidly.

The average 30-year fixed rate rose 7 basis points, to 6.03 percent. A basis point is one-hundredth of a percentage point.

The average 15-year fixed -- a popular option for refinancing -- moved up 9 basis points, to 5.65 percent. The average jumbo 30-year fixed slipped 6 basis points, to 7.32 percent.

Adjustable-rate mortgages headed in opposite directions this week. The one-year adjustable-rate mortgage jumped 14 basis points, to 6.45 percent.

Meanwhile, the popular 5/1 ARM slid 10 basis points, to 5.85 percent. The 5/1 ARM has now plunged 59 basis points in a month.

Mortgage application activity rose modestly for the week ending April 11. Application volume increased a seasonally adjusted 2.5 percent, according to the Mortgage Bankers Association.

Refinancing activity rose 5.2 percent from the previous week, while applications for new purchases declined 0.8 percent.

-- Chris Kissell

See mortgage rates in your area.

Bankrate.com's corrections policy

-- Posted: April 17, 2008

		RESOURCES
		Experts predict where rates are headed
		Fed Outlook blog
		Graph rates for the past three months