The average rate on a 30-year fixed-rate mortgage remained more than 5.5 % for the third week in a row. Unfortunately rates went up.
According to the Bankrate.com survey 30-year fixedrate mortgage rose 7 basis points up to 5.41 %. A year ago the mortgage index was 6.41 %. A month ago it was 5.48 %.
- This week's rate (30-year fixed mortgage): 5.41%
- Change from last week (30-year fixed mortgage): +0.07
- Monthly payment (30-year fixed mortgage): $927.56
- Change from last week (30-year fixed mortgage) : +$7.20
Since in September 1985 there was only one period in which the 30-year fixed remained under 5.5 % for longer than this three weeks. That were May and June 2003 - the height ofa refinance boom..
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