Bankrate: Mortgage Rates Move Lower
The average conforming 30-year fixed mortgage rate fell for the fourth consecutive week, settling at 5.13%, according to Bankrate.com. The average 30-year fixed mortgage has an average of 0.49 discount and origination points.
The average 15-year fixed mortgage dropped to 4.54% but the larger jumbo 30-year fixed rate moved higher to 5.99%.
Adjustable mortgage rates dipped, with the average three-year ARM declining to 4.65% and the five-year ARM dropping to 4.54%
30-year fixed: 5.13% — down from 5.15% last week
15-year fixed: 4.54% — down from 4.56% last week
5/1 ARM: 4.54% — down from 4.63% last week
The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, Savingforcollege.com, Fee Disclosure, InsureMe CreditCardGuide.com and Bankaholic. Each of these businesses helps consumers to make informed decisions about their personal finance matters.
SOURCE Bankrate, Inc.
