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Mortgage rates tread lower
Average rates for 15-year, 30-year fixed, and ARM loans ease; 30-year at 6.05%
August 17, 2004: 5:05 PM EDT

Bankrate.com
 
30 yr fixed mtg 6.16%
15 yr fixed mtg 5.90%
30 yr fixed jumbo mtg 7.52%
5/1 ARM 5.93%
5/1 jumbo ARM 6.17%
Find personalized rates:
 

NEW YORK (CNN/Money) - Mortgage rates fell the week ended Aug. 10, with the average 30-year fixed mortgage pulling back to 6.05 percent, down from 6.2 percent the week prior.

The benchmark mortgage rate stood at 6.18 percent a month earlier, according to Informa Research Services, and had a range of 4.58 percent to 6.88 percent for the week ended Aug. 10.

The average 15-year fixed mortgage rate slipped an average of 5.48 percent, up from 5.62 percent the previous week, with a range of 4.69 percent to 6.99 percent. Rates stood at 5.59 percent a month earlier.

Weely rates information
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Savings rates flat
Credit card rates ease
Mortgage rates tread lower

Adjustable rate mortgages (ARMs) dipped to a 4.84 percent average from 4.86 percent the week prior, with a range of 2.99 percent to 7.09 percent. ARM rates stood at 4.75 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 August 10, 2004
  15 Yr Conforming 30 Yr Conforming 1 Yr Adjustable
Institution Rate APR Pts Rate APR Pts Rate APR Pts
Washington Mutual 5.250 5.588 0.000 5.875 5.943 0.000 4.500 4.890 0.000
Wells Fargo 5.250 5.588 0.000 5.875 5.943 0.000 5.375 4.877 0.000
Bank of America 5.250 5.675 0.253 6.000 6.077 0.021 5.125 4.686 0.027
Countrywide 5.500 5.579 0.125 6.000 6.060 0.250 3.375 4.783 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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