National mortgage rates for Nov. 8, 2012

Claes Bell
November 8, 2012

Interest Rate Roundup

Mortgage rate graph
Mortgage rate graph

Find the best mortgage rates in your area.

Mortgages

  • 3.57% (30-year fixed)
  • 0.4 (average points)

Mortgage rates were mixed in what was generally a slow week.

The 30-year fixed-rate mortgage stayed steady at 3.57 percent.

However, the 15-year fixed-rate mortgage fell 1 basis point to 2.88 percent. A basis point is one-hundredth of 1 percentage point.

The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, also fell, losing 2 basis points to 4.09 percent.

The 5/1 adjustable-rate mortgage was unchanged at 2.72 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

The volume of mortgage applications decreased 5 percent last week, compared to one week earlier, according to the Mortgage Bankers Association, reflecting, in part, the effects of Superstorm Sandy.

See all interest rates content

Next
Next



More From Bankrate.com