Mortgage rates little changed
Rates 'yo-yo' in volatile week as 30-year fixed ticks down to 5.58%, while 15-year sticks at 4.93%.
| Downpayment: | $ | |
| Interest rate: | % | |
| Yearly property taxes: | $ | |
| Yearly homeowner's insurance: | $ | |
 |
||
| 30 yr fixed | 3.80% |
| 15 yr fixed | 3.20% |
| 5/1 ARM | 3.84% |
| 30 yr refi | 3.82% |
| 15 yr refi | 3.20% |
NEW YORK (CNNMoney.com) -- Home mortgage rates saw an up-and-down week but ended almost unchanged, according to a report released Thursday.
The average 30-year fixed mortgage slipped to 5.58% from 5.59% the week prior, and the 15-year fixed held at 4.93%.
The lack of change belies rates' "yo-yo movement" over the week, said the weekly national survey from Bankrate.com.
"It was an active week for mortgage rates," the report added. "After first declining on continued economic weakness, mortgage rates reversed ground following corporate earnings that weren't as bad as feared."
As a result, investors have flocked to the safety of government and mortgage-backed bonds. Mortgage rates are closely related to yields on long-term government debt.
Volatility is likely to continue amid uncertain recovery sentiment and mixed economic data, the report warned.
Current rates remain much lower than last year's levels, when the average 30-year fixed mortgage rate was 6.42%, according to Bankrate.com.
At the current rate of 5.58%, the monthly payment on a $200,000 mortgage would be $1,145.63, or about $108 less than the monthly payment at last year's rate.
Adjustable-rate mortgages: ARMs continue to post mixed results, the report said, with the average 1-year ARM rising to 5.22% from 5.18%, and the 5-year ARM falling to 4.98% from 5.05%.
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