CNN/Money One for credit card only hard offer form at $9.95 One for risk-free form at $14.95 w/ $9.95 upsell  
CNNMoney.com
Personal Finance > Credit & Debt
graphic

Home loan rates mixed
Rates for 15-year, 30-year mortgages pull back slightly, but 1-year ARM inches higher.
June 23, 2004: 2:36 PM EDT

NEW YORK (CNN/Money) - Mortgage rates were mixed the week ended June 22, with the 30-year fixed mortgage dipping to 6.41 percent, down slightly from 6.47 percent the week prior.

Bankrate.com
 
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%
Find personalized rates:
 

"The slight decline in 15-year and 30-year fixed rate mortgages is largely due to stronger bond prices," said Mavel Vargas, manager of mortgage lending research at Informa Research Services, Inc. "Typically, when bond yields drop mortgage rates follow because lenders use the yields as benchmarks to set values on mortgages packaged and sold as securities."

The benchmark mortgage rate stood at 6.44 percent roughly one month ago, according to Informa, and had a range of 5.46 to 7.39 percent for the week ended June 22.

Weekly rates information
graphic
Home loan rates mixed
12-mo. CD rates inch higher
Credit card rates lie low

The average 15-year fixed mortgage rate pulled back slightly to an average of 5.82 percent, down from 5.85 percent the previous week, with a range of 4.69 percent to 6.99 percent. Rates stood at 5.81 percent a month earlier.

Adjustable rate mortgages (ARMs), however, picked up some momentum, rising to a 4.87 percent average from 4.78 percent last week with a range of 3.12 to 6.18 percent. ARM rates stood at 4.55 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 June 22, 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 6.375 6.433 0.000 4.750 4.861 0.000
Wells Fargo 5.750 5.792 0.000 6.250 6.275 0.000 5.375 4.988 0.000
Bank of America 5.750 5.832 0.027 6.250 6.365 0.426 4.500 4.801 0.119
Countrywide 6.125 6.162 0.000 6.625 6.648 0.000 4.500 5.081 0.000
National City Mortgage 5.875 6.110 0.000 6.625 6.774 0.000 4.375 5.039 1.000
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.

.  Top of page




  More on CREDIT & DEBT
Stay away from the mall, say Hallelujah!
Dissolve holiday debt
Paying by plastic gets faster
  TODAY'S TOP STORIES
Cool gadgets: Where tech is headed
Seven banks fail, pushing 2009 tally to 52
Oil's record high, one year later




graphic graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.