Mortgage News Key Mortgage Rate Sink To 49-Week Low
Key Mortgage Rate Sink To 49-Week Low
By Polyana da Costa – Bankrate.com
Mortgage rates defied the odds and edged lower for the fifth consecutive week, even as some economic reports show that the U.S. economy is growing.
The benchmark 30-year fixed-rate mortgage fell to 4.25 percent from 4.29 percent the previous week, according to the Bankrate.com national survey of large lenders. One year ago, that rate stood at 3.99 percent. Four weeks ago, it was 4.44 percent. The mortgages in this week’s survey had an average total of 0.34 discount and origination points.
This is the lowest level the 30-year rate has reached since June 19, when it was 4.12 percent.
The benchmark 15-year fixed-rate mortgage fell to 3.35 percent from 3.38 percent last week.
The benchmark 5/1 adjustable-rate mortgage rose to 3.24 percent from 3.21 percent. The benchmark 30-year fixed-rate jumbo fell to 4.29 percent from 4.31 percent.