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Mortgage rates mixed
Rate for 30-year holds steady, 15-year pulls back slightly, and 1-year ARM inches higher.
May 26, 2004: 2:40 PM EDT

NEW YORK (CNN/Money) - Mortgage rates were mixed the week ended March 25, but the 30-year fixed mortgage held steady at 6.44 percent, unchanged from the previous week.

Mortgage Rates
30 yr fixed mtg 5.03%
15 yr fixed mtg 4.53%
30 yr fixed jumbo mtg 5.86%
5/1 ARM 4.06%
5/1 jumbo ARM 4.67%

Find personalized rates:
 

Rates provided by Bankrate.com.

The benchmark mortgage rate stood at 6.10 percent roughly one month ago, according to Informa Research Services, and had a range of 5.38 to 7.25 percent for the week ended May 25.

The average 15-year fixed mortgage rate pulled back slightly to an average of 5.81 percent, down from 5.82 percent the previous week, with a range of 4.69 percent to 6.99 percent. Rates stood at 5.42 percent a month earlier.

Weekly rates information
graphic
12-mo. CD rates edge higher
Mortgage rates mixed
Credit card rates hold steady

Adjustable rate mortgages (ARMs) picked up some momentum, rising to a 4.55 percent average from 4.52 percent last week with a range of 2.87 to 6.06 percent. ARM rates stood at 4.21 percent a month earlier.

Below are the rates for three key mortgage products from five top national mortgage lenders. You can compare rates from more institutions with the rate-search tools above.

MORTGAGES
*TOP NATIONAL LENDERS

As of May 25, 2004
  15 Yr Conforming 30 Yr Conforming 1 Yr Adjustable
Institution Rate APR Pts Rate APR Pts Rate APR Pts
Washington Mutual 5.750 5.840 0.000 6.500 6.559 0.000 4.750 4.640 0.000
Wells Fargo 5.750 5.792 0.000 6.375 6.401 0.000 4.625 4.604 0.000
Bank of America 5.750 5.895 0.313 6.500 6.614 0.120 4.500 4.372 0.052
Countrywide 6.125 6.221 0.250 6.625 6.672 0.250 4.250 4.831 0.000
National City Mortgage 6.000 6.236 0.000 6.750 6.863 0.000 4.625 4.725 0.000
Mortgage rates are based on a purchase of a single family, owner occupied residence requiring 20% down payment. Conforming loan amount up to $333,700, Jumbo up to $650,000.
*Top National Lenders based by $ amount funded.
Source: Informa Research Services, Inc., 800-848-0218. © 2004. All rights reserved. May not be reproduced or retransmitted in any form without express written consent of Informa Research Services, Inc.

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