NEW YORK, Sept. 10, 2015 /PRNewswire/ -- Mortgage rates were little changed this week, with the benchmark 30-year fixed mortgage rate holding at 4.05 percent, according to Bankrate.com's weekly national survey. The 30-year fixed mortgage has an average of 0.21 discount and origination points.
The larger jumbo 30-year fixed rate reversed last week's move, dropping to 3.92 percent, and is now one-eighth of a percentage point below the smaller conforming 30-year fixed mortgage. The average 15-year fixed mortgage ticked up to 3.23 percent. Adjustable mortgage rates were mixed, with the 3-year ARM inching down to 3.26 percent while the 5-year ARM nosed higher to 3.24 percent.
Mortgage rates showed little movement as another week of up-and-down financial markets kept demand for the safety of U.S. government bonds at a high level. Mortgage rates are closely related to the yields on long-term Treasury securities. A monthly jobs report that was seen as very middle of the road further clouded whether or not the Federal Reserve will raise interest rates at their meeting next week. While the U.S. economic data is strong enough to support an interest rate hike, it is what is happening elsewhere around the globe that may well cause the Fed to hold off on any move this month.
At the current average 30-year fixed mortgage rate of 4.05 percent, the monthly payment on a $200,000 loan is $960.60.
SURVEY RESULTS
30-year fixed: 4.05% -- unchanged from last week (avg. points: 0.21)
15-year fixed: 3.23% -- up from 3.22% last week (avg. points: 0.16)
5/1 ARM: 3.24% -- up from 3.23% last week (avg. points: 0.19)
Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in 10 top markets.
For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/finance/mortgages/mortgage-analysis-091015.aspx.
The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. Three-quarters of the panelists expect mortgage rates to move higher, with the remaining 25 percent saying mortgage rates will remain more or less unchanged in the coming week. Interestingly, none of the respondents forecast a pullback in mortgage rates over the coming week.
About Bankrate, Inc.
Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes Bankrate.com, CreditCards.com, InsuranceQuotes.com and Caring.com, our flagship websites, and other owned and operated personal finance websites, including Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, CarInsuranceQuotes.com, Insweb.com, CreditCards.ca, and NetQuote.com. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of over 600 local markets, Bankrate generates rate tables in all 50 U.S. states. Bankrate develops and provides web services to over 100 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, AOL, CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.
For more information contact:
Kayleen Yates
Senior Director, Corporate Communications
[email protected]
(917) 368-8677
Logo - http://photos.prnewswire.com/prnh/20040122/FLTHLOGO
SOURCE Bankrate, Inc.
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article