National Mortgage Rates Dip Further

National Mortgage Rates Dip Further

NEW YORK, NY - Mortgage rates declined for a third straight week, with the benchmark conforming 30-year fixed mortgage rate now 4.45 percent, according to's weekly national survey. The average 30-year fixed mortgage has an average of 0.45 discount and origination points. The record low of 4.42 percent was set in October and November of 2010.

The average 15-year fixed mortgage reset a record at 3.58 percent while the larger jumbo 30-year fixed rate fell below the 5 percent mark for the first time, landing at 4.89 percent. Adjustable rate mortgages saw the biggest decreases, with the average 5-year ARM dropping to 3.15 percent and the 10-year ARM falling to 3.83 percent.  

Mortgage rates remain at, or near, record lows on a variety of both fixed and adjustable rate mortgage products. The weakness in the U.S. economy and the accompanying demand for Treasury securities has pushed mortgage rates lower. Fixed mortgage rates are closely related to yields on long-term government bonds.

The last time mortgage rates were above 6 percent was Nov. 2008. At the time, the average 30-year fixed 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 4.45 percent, the monthly payment for the same size loan would be $1,007.44, a difference of $234 per month for anyone refinancing now.


30-year fixed: 4.45% -- down from 4.46% last week (avg. points: 0.45)

15-year fixed: 3.58% -- down from 3.61% last week (avg. points: 0.42)

5/1 ARM: 3.15% -- down from 3.24% last week (avg. points: 0.42)

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.

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. Nearly half of respondents, 47 percent, expect mortgage rates to remain more or less unchanged over the next week. One-third, or 33 percent, predict mortgage rates will rise and just 20 percent forecast further declines in mortgage rates.

For the full mortgage Rate Trend Index, go to:

The Bankrate network of companies includes,,, Nationwide Card Services, 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.


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