Mortgage Rate Trends - Week of 4/17/08
Posted by admin on 04/20/08 in Mortgage Rate Trends
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.
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