Sunday, February 9, 2014

Mortgage rates dropped for the fifth week in row .......

By Polyana da Costa •

30 year fixed rate mortgage – 3 month trend

The benchmark 30-year fixed-rate mortgage fell to 4.43 percent from 4.5 percent the previous week, according to the national survey of large lenders. One year ago, that rate stood at 3.76 percent. Four weeks ago, it was 4.64 percent. The mortgages in this week's survey had an average total of 0.35 discount and origination points. This is the lowest that the 30-year fixed has been since Nov. 20, when the fixed rate was 4.39 percent.

The benchmark 15-year fixed-rate mortgage fell to 3.5 percent from 3.56 percent last week, and the benchmark 5/1 adjustable-rate mortgage fell to 3.27 percent from 3.37 percent. The benchmark 30-year fixed-rate jumbo fell to 4.47 percent from 4.54 percent.

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