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.
Current Mortgage Rates
Type
Overnight avgs
30 yr fixed mtg
5.34%
15 yr fixed mtg
4.86%
30 yr fixed jumbo mtg
6.51%
5/1 ARM
4.56%
5/1 jumbo ARM
5.25%
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.
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