Mortgage Rate Update Ending 12/15/08

December 16, 2008

Interest RatesBankrate.com  conducts a weekly national survey on the interest rates for the five most common consumer banking products.  Here’s this week’s outcome:

  • 30 Year Fixed Rate: 5.80 percent with points averaging: 0.35
  • 30 Year Fixed Rate Jumbo: 7.37 percent
  • 15 Year Fixed Rate: 5.51 percent
  • 5/1 ARM (Adjustable): 6.17 percent
  • 1 Year ARM (Adjustable): 6.09 percent 

Fixed-rate mortgages continued to fall this week.  They have dropped to their lowest point since February. After a massive 112.1 percent increase the week before, the overall mortgage activity fell at the end of November, according to the Mortgage Bankers Association.

Written by Adam Golden · Filed Under Featured, Tri-Valley Real Estate Update 

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