RISMEDIA, July 7, 2011—Mortgage Marvel Rate Trends™, a daily survey of over 950 lenders, shows 30-year, fixed rates bouncing up 0.15% to 4.78% after setting a new six-month low last week.
With the increase in rates over the past week, 30-year fixed rates are 0.44% lower than the 6-month high of 5.22% achieved on February 10, 2011 and 0.58% above the ever-to-date low of 4.20% reached October 12, 2010.
Fifteen-year fixed rates also jumped, but to a lesser degree than the 30-year fixed, ending the week at 3.93% as compared to last week’s 3.85%. The increase in 5/1 ARM rates matched that of the 30-year fixed rate, jumping 0.16% to end the week at 3.80%. The rates for 30-year, fixed rate jumbo loans (typically loans over $417,000) increased just 0.03% to 5.48% this week from 5.45% last week.
For more detailed information, including an interactive graph and state-level detail, go to http://www.mortgagemarvel.com/mortgageratetrends/.
For more information, please visit www.MortgageMarvel.com.