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Mortgage Rates Move Higher as Bernanke Doesn’t Offer New Stimulus Plan
 

Mortgage Rates Move Higher as Bernanke Doesn’t Offer New Stimulus Plan

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Today's mortgage rates moved higher as Fed Chairman Bernanke spoke in Jackson Hole but didn't offer any new stimulus plan to help the economy. Bernanke did say employment as a concern and at the next Fed meeting in late September they will decide what to do, whether to offer more stimulus or wait further.

Compare mortgage rates and refinance rates from several lenders by searching our mortgage rates list here: MORTGAGE RATES.

Mortgage rates today on 30 year mortgages are averaging 4.31%, up from an average 30 year mortgage rate of 4.25% yesterday. 30 year mortgage rates have been under 5.00% for the past several months. We expect 30 year rates to break 4.00% if the economy heads back into a recession.

Current mortgage rates on 15 year mortgage loans are averaging 3.58%, an increase from yesterday's average 15 year mortgage rate of 3.53%. 15 year rates have been under 4.00% all year long and will head towards 3.25% if we fall back into a recession.

Mortgage rates today on jumbo mortgages are also higher, current 30 year jumbo mortgage rates are averaging 4.68%, up from yesterday's average 30 year jumbo interest rate of 4.64%.

Mortgage rates currently on 15 year jumbo mortgages are averaging 3.95%, up from yesterday’s average 15 year jumbo mortgage rate of 3.94%.

Adjustable mortgage rates today also moved higher compared to yesterday. Conforming 5 year adjustable mortgage rates are averaging 3.03%, up from yesterday’s average 5 year adjustable mortgage rate of 3.01%.

Jumbo adjustable mortgage rates on 5 year jumbo mortgage loans are averaging 3.30%, up from an average 5 year jumbo mortgage rate of 3.28% yesterday.

Find a list of mortgage rates from several lenders by searching our mortgage rates list.
Author: Stacy Everest
August 26th, 2011