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		Home Page Mortgage News You Can Use Mortgage Rates at a Near Standstill NEW YORK, Feb. 12 /PRNewswire-FirstCall/ -- Mortgage rates inched lower by a narrow margin, one week after remaining unchanged. The average 30-year fixed rate mortgage dipped from 5.72 percent to 5.71 percent, according to Bankrate.com's weekly national survey of large lenders. The mortgages in this week's survey had an average of 0.4 discount and origination points. The 15-year fixed rate mortgage popular for refinancing reversed last week's move, falling from 5.05 percent to 5.02 percent. The jumbo 30-year fixed rate mortgage declined 4 basis points to 5.92 percent, while the one- year adjustable rate mortgage increased for the second consecutive week, rising 2 basis points to 3.7 percent. A basis point is one one-hundredth of one percentage point. Low inflation, slower than expected job growth, and continued purchases of Treasury securities by foreign central banks amid the dollar's decline, are keeping long-term bond yields and mortgage rates low, even as the economy strengthens. Mortgage rates are closely related to the yields on long-term government bonds. "Any notable increase in mortgage rates awaits a similarly notable increase in job growth, and is unlikely to materialize soon," said Bankrate senior financial analyst Greg McBride. Monthly mortgage payments remain enticing to home buyers and refinancers alike. The monthly payment on a $165,000 loan with the average 30-year fixed rate mortgage at 5.71 percent is $958.71. Six months ago, when the average rate was 6.37 percent, the same size loan carried a monthly payment of $1,028.85. The $70.14 difference in monthly payments amounts to more than $25,000 over the loan term. SURVEY RESULTS 30-year fixed: 5.71% -- down from 5.72% last week (avg. points: 0.4) 15-year fixed: 5.02% -- down from 5.05% last week (avg. points: 0.38) 1-year ARM: 3.7% -- up from 3.68% last week (avg. points: 0.31) 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 forward-looking Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed. This week, the majority of panel respondents, 55 percent, feel rates will remain unchanged over the next 30 to 45 days. The remaining tally is split, with 27 percent predicting an increase, and 18 percent predicting a further decline. Back to Original Article: News You Can Use   Continue with: U.S. mortgage rates unchanged Wednesday - BestInfo Budget deficits a risk to low interest rates, Greenspan says Bad Credit Home Loan Secrets Officials order new mutual fund reforms Greenspan provides fuel for dollar decline Dollar, gold mixed in Europe U.S. Treasury Bond Prices Higher
		Bad Credit Mortgage Refinance