Average rates for 15-year, 30-year fixed mortgages ease, but ARMs rise; 30-year at 6.16%. July 21, 2004: 11:14 AM EDT
Mortgage Rates
30 yr fixed mtg
5.13%
15 yr fixed mtg
4.70%
30 yr fixed jumbo mtg
6.06%
5/1 ARM
4.30%
5/1 jumbo ARM
4.87%
NEW YORK (CNN/Money) -
Mortgage rates were mixed the week ended July 20, with the average 30-year fixed mortgage easing to 6.16 percent, down from 6.18 percent the week prior.
The benchmark mortgage rate stood at 6.41 a month earlier, according to Informa Research Services, and had a range of 5.13 percent to 7.13 percent for the week ended July 20.
The average 15-year fixed mortgage rate pulled back to an average of 5.57 percent, down from 5.59 percent the previous week, with a range of 4.69 percent to 6.99 percent. Rates stood at 5.82 percent a month earlier.
Adjustable rate mortgages (ARMs), meanwhile, rose to a 4.81 percent average from 4.75 percent the week prior, with a range of 3.05 percent to 7.09 percent. ARM rates stood at 4.87 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 tool above. Plus, see the latest on savings rates and credit-card rates.
