National mortgage rates for July 19, 2012

Bankrate.com

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Mortgages

  • 3.78% (30-year fixed)
  • 0.43 (average points)

Mortgage rates hit fresh lows this week as investors remain worried about the euro crisis and slow economic growth in the United States.

The 30-year fixed-rate mortgage fell 1 basis point to 3.78 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate mortgage fell 1 basis point to 3.04 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 1 basis point to 4.43 percent.

The 5/1 adjustable-rate mortgage fell 6 basis points to 2.89 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

The volume of mortgage applications increased 16.9 percent last week compared to one week earlier, according to the Mortgage Bankers Association.



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