Average rates for 15-year, 30-year fixed, and ARM loans ease; 30-year at 6.05% August 17, 2004: 5:05 PM EDT
Current Mortgage Rates
Type
Overnight avgs
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%
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.
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.