Mortgage Rates Flat - 30 Year at 5.19%


After breaking through 5% and surging to 5.20% last week the 30-year average mortgage rate declined slightly to 5.19% according to BestCashCo

w/Informa data. The successful auction of 10 year Treasury notes last week reassured the market and stopped any further climb in rates. Most analysts expect rates to rise to the 5.50-6% range over the next six months but if Treasury auctions continue to run strong, then rates could linger below 5.5% for some time.

What Does This Mean for Homebuyers?

I've been following actual rates, not just averages for a 30-year fixed rate loan in Massachusetts for the past four months. Until two weeks ago, a homebuyer could get a $200,000 loan at 0 points for 4.5%. Last week, the rate shot up to 5.125%. This week is came down to 4.875%.

Other Mortgage Rates

Other rates moved up slightly. The average 15-year5YearARM fixed rate mortgage rose from 4.50% to 4.52%, up from a low of 4.34% in March. As the chart shows, the 5-year ARM rose from 4.03% to 4.05%. The 5-year ARM has shown much less volatility than the longer-term fixed rate mortgages. The 1-year ARM, one of the most volatile of the rates tracked moved from 4.83% to 4.86%

View mortgage rates by state and zip code.

Related Videos:

Key Things to Know About Getting a Mortgage

How Long Does It Take to Get a Mortgage?

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

Add your Comment

or use your BestCashCow account


Featured - 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Points Fees Monthly
Learn More
PenFed Credit Union
NMLS ID: 401822
6.530% 6.375% 0.63 $5,200 $1,997 Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.966% 6.875% 0.75 $2,982 $2,103 Learn More
Rocket Mortgage
NMLS ID: 3030
7.451% 7.375% 0.75 $2,400 $2,211 Learn More
Neighbors Bank
NMLS ID: 491986
Learn More