Mortgage Rate Trends - Week of 4/17/08

Mortgage rates continued to ride the seesaw this week, down one week and up the next. This time, it was their turn to go up.

The benchmark 30-year fixed-rate mortgage rose 7 basis points, to 6.03 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week’s survey had an average total of 0.31 discount and origination points. One year ago, the mortgage index was 6.29 percent; four weeks ago, it was 5.98 percent.

The benchmark 15-year fixed-rate mortgage rose 9 basis points, to 5.65 percent. The benchmark 5/1 adjustable-rate mortgage went the other way, falling 10 basis points, to 5.85 percent. The benchmark jumbo 30-year fixed, for bigger mortgages, fell 6 basis points, to 7.32 percent.

etrade

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