NEW YORK, Sept. 14, 2017 /PRNewswire/ -- Mortgage rates
broke a streak of three consecutive declines, with the benchmark
30-year fixed mortgage rate rising to 3.99 percent, according to
Bankrate.com's weekly national survey. The average 30-year fixed
mortgage has an average of 0.29 discount and origination
points.
The larger jumbo 30-year fixed moved over the 4 percent
threshold to 4.01 percent, and the average 15-year fixed mortgage
rate rose to 3.22 percent. Adjustable mortgage rates were little
changed, with the 5-year ARM nosing up to 3.46 percent and the
7-year ARM holding at 3.63 percent.
After moving lower in each of the past three weeks, mortgage
rates rebounded a bit this week. Financial markets breathed a sigh
of relief when a North Korean holiday passed uneventfully with no
missile tests, and the damage from Hurricane Irma was less than
originally feared. As investors exhaled, the heavy demand for bonds
that had driven mortgage rates lower eased, with bond prices
slipping and yields rising. Mortgage rates are closely related to
the yields on long-term government bonds. This week's mortgage
rates are still the 3rd lowest level of the year.
At the current average 30-year fixed mortgage rate of 3.99
percent, the monthly payment for a $200,000 loan is $953.68.
SURVEY
RESULTS
30-year fixed: 3.99% -- up from 3.95% last week
(avg. points: 0.29)
15-year fixed: 3.22% -- up from 3.17% last week
(avg. points: 0.22)
5/1 ARM: 3.46% -- up from 3.45% last week (avg.
points: 0.35)
Bankrate's national weekly mortgage survey is conducted every
Wednesday from data provided by the top 10 banks and thrifts in 10
top markets. For a full analysis of this week's move in mortgage
rates, go to http://www.bankrate.com/mortgages/analysis/.
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. The majority – 69
percent – say mortgage rates are headed higher, while the remaining
31 percent predict mortgage rates will remain more or less
unchanged.
About Bankrate.com
Bankrate.com provides consumers
with the expert advice and tools needed to succeed throughout
life's financial journey. For over two decades, Bankrate.com has
been a leading personal finance destination. The company
offers award-winning editorial content, competitive rate
information, and calculators and tools across multiple categories,
including mortgages, deposits, credit cards, retirement, automobile
loans, and taxes. Bankrate aggregates rate information from over
4,800 institutions on more than 300 financial products. With
coverage of over 600 local markets, Bankrate generates rate tables
in all 50 U.S. states. Bankrate develops and provides web services
to more than 100 cobranded websites with online partners, including
some of the most trusted and frequently visited personal finance
sites on the internet, such as Comcast, Yahoo!, CNBC and
Bloomberg. In addition, Bankrate licenses editorial content
to more than 500 newspapers on a daily basis including The Wall
Street Journal, USA Today, The
New York Times and The Los Angeles Times.
For more information contact:
Kayleen Yates
Vice President, Corporate Communications|
kyates@bankrate.com
(917)
368-8677
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SOURCE Bankrate.com