National Mortgage Rates Rebound Slightly

National Mortgage Rates Rebound Slightly
NEW YORK, NY - Mortgage rates posted the first increase in five weeks, with the average conforming 30-year fixed mortgage rate now 4.63 percent, according to's weekly national survey. The average 30-year fixed mortgage has an average of 0.43 discount and origination points. The average 15-year fixed mortgage reversed course to 4.11 percent, and the larger jumbo 30-year fixed rate inched lower to a new record low of 5.26 percent. Adjustable rate mortgages were mixed, with the average 3-year ARM rising to 4.28 percent and the average 7-year ARM slipping to 4.19 percent.

Mortgage rates may have been higher this week, but its not all bad news. Mortgage rates are currently at the second lowest level on record, after last week's record low. Also, with rates for larger jumbo mortgages that don't carry federal guarantees moving lower while smaller conforming loan rates increased, the spread between them hasn't been narrower since the first days of the credit crunch over three years ago.

The last time mortgage rates were above 6 percent was Nov. 2008. At that time, the average rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 4.63 percent, the monthly payment for the same size loan would be $1,028.88, a savings of $213 per month for a homeowner refinancing now.

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to:

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. Rates aren't likely to move lower, according to the respondents. Nearly half of the panelists – 47 percent – forecast an increase and an identical 47 percent expect mortgage rates to remain more or less unchanged. Just 6 percent predict mortgage rates will fall in the next week.

For the full mortgage Rate Trend Index, go to:

The Bankrate network of companies includes,,, Nationwide Card Services,, Fee Disclosure, InsureMe, Bankaholic, and NetQuote. Each of these businesses helps consumers to make informed decisions about their personal finance matters. The company's flagship brand, is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. reviews more than 4,800 financial institutions in 575 markets in 50 states. provides financial applications and information to a network of more than 75 partners, including Yahoo! (Nasdaq: YHOO), America Online (NYSE: AOL), The Wall Street Journal and The New York Times (NYSE: NYT).'s information is also distributed through more than 500 newspapers. Bankrate, Inc. was acquired by Apax Partners, one of the world's leading private equity investment groups, in September 2009. Apax operates across the United States, Europe and Asia and has more than 30 years of investing experience.

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