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Mortgage rates inch higher
Average rates for 15-year, 30-year fixed, and ARM loans rise; 30-year at 6.17%.
July 29, 2004: 11:42 AM EDT

NEW YORK (CNN/Money) - Mortgage rates ticked modestly higher the week ended July 27, with the average 30-year fixed mortgage rising to 6.17 percent, up from 6.16 percent the week prior.

Mortgage Rates
30 yr fixed 3.80%
15 yr fixed 3.09%
5/1 ARM 2.65%
30 yr refi 3.77%
15 yr refi 3.09%

Find personalized rates:
 

Rates provided by Bankrate.com.

"There are many variables that can influence the rates on long term mortgages," said Mavel Vargas, mortgage lending research manager at Informa Research Services, Inc.

"This month, a higher-than-expected increase in housing starts has triggered economic growth and is considered inflationary, causing bond prices to fall and yields and interest rates to rise. This rise in rates has pushed many people to close loan deals before rates go any higher."

The benchmark mortgage rate stood at 6.39 percent a month earlier, according to Informa Research Services, and had a range of 5.46 percent to 7.25 percent for the week ended July 27.

Weekly rates information
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Savings rates mixed
Mortgage rates inch higher
Credit card rates mixed

The average 15-year fixed mortgage rate rose an average of 5.58 percent, up from 5.57 percent the previous week, with a range of 4.69 percent to 6.99 percent. Rates stood at 5.80 percent a month earlier.

Adjustable rate mortgages (ARMs), meanwhile, rose to a 4.83 percent average from 4.81 percent the week prior, with a range of 3.05 percent to 7.09 percent. ARM rates stood at 4.85 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.

MORTGAGES: *TOP NATIONAL LENDERS
As of July 27, 2004
  15 Yr Conforming 30 Yr Conforming 1 Yr Adjustable
Institution Rate APR Pts Rate APR Pts Rate APR Pts
Washington Mutual 5.375 5.461 0.000 6.125 6.181 0.000 4.750 4.861 0.000
Wells Fargo 5.500 5.541 0.000 6.125 6.150 0.000 5.625 4.877 0.000
Bank of America 5.375 5.433 0.241 6.125 6.203 0.305 4.500 4.686 0.158
Countrywide 5.750 5.857 0.125 6.250 6.328 0.125 4.125 5.036 0.000
National City Mortgage 5.750 5.924 0.000 6.375 6.497 0.000 4.375 4.898 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.

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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.