Bankrate: Mortgage Rates Move Lower

Nov 15, 2012, 07:30 ET from Bankrate, Inc.

NEW YORK, Nov. 15, 2012 /PRNewswire/ -- Fixed mortgage rates were mostly lower this week, including the benchmark 30-year fixed mortgage rate which dipped to 3.54 percent, according to's weekly national survey. The average 30-year fixed mortgage has an average of 0.39 discount and origination points.

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To see mortgage rates in your area, go to

The average 15-year fixed mortgage rate inched lower to 2.87 percent and the larger jumbo 30-year mortgage set a new record low of 4.06 percent. Adjustable mortgage rates were mixed. The 3-year ARM moved higher to 2.83 percent and the popular 5-year ARM remained unchanged at 2.72 percent.  

The last time mortgage rates were above 6 percent was Nov. 2008. At the time, the average 30-year fixed rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 3.57 percent, the monthly payment for the same size loan would be $902.56, a difference of $339 per month for anyone refinancing now.


30-year fixed: 3.54% -- down from 3.57% last week (avg. points: 0.39)

15-year fixed: 2.87% -- down from 2.88% last week (avg. points: 0.25)

5/1 ARM: 2.72% -- unchanged from last week (avg. points: 0.42)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to

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. Results this week are mixed, 42 percent predict mortgage rates will remain unchanged, 33 percent expect mortgage rates to rise in the next seven days and the remaining 25 percent expect a decrease in mortgage rates in the coming week.

For the full mortgage Rate Trend Index, go to

About Bankrate, Inc. (NYSE: RATE)

The Bankrate network of companies includes,,, Nationwide Card Services, InsureMe,, Bankaholic, and NetQuote.  Each of these businesses helps consumers to make informed decisions about their personal finance matters. The company's flagship brand, is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. reviews more than 4,800 financial institutions in 575 markets in 50 states. provides financial applications and information to a network of more than 75 partners, including Yahoo! (Nasdaq: YHOO), America Online (NYSE: AOL), The Wall Street Journal and The New York Times (NYSE: NYT).'s information is also distributed through more than 500 newspapers.

For more information contact: 
Kayleen Yates
Senior Director, Corporate Communications 
(917) 368-8677          




SOURCE Bankrate, Inc.