Mortgage Rate Continue to Climb

Despite discussion of 4 percent mortgage rates ringing in the halls of the Senate, mortgage rates continue to rise. The MortgageLoan.com mortgage rate survey indicates the average 30-year fixed-rate mortgage rose to 5.39 percent today. This reflects a consistent, multi-week climb from a low of 5.10 percent in late January. The US government and Federal Reserve continue to focus attention on affordable housing costs, but the uncertainty in the market and the enormous illiquid mortgage assets remaining on major banks balance sheets are keeping spreads and consumer mortgage rates high.

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National Rates

Loan Type Today +/-
30 yr fixed 3.80
15 yr fixed 3.10
5/1 ARM 2.73

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