With a flurry of news breaking in Washington, US mortgage rates moved to the downside with the benchmark 30-year fixed mortgage rate falling to a five-month low of 4.15%, according to Bankrate.com’s weekly national survey. The 30-year fixed mortgage has an average of 0.25 discount and origination points.
The larger jumbo 30-year fixed slid to 4.08%, and the average 15-year fixed mortgage rate dropped to 3.35%. Adjustable mortgage rates were on the decline as well, with the 5-year ARM sinking to 3.42% and the 7-year ARM reverting to where it had been two weeks ago at 3.62%.
There’s nothing like a good old fashioned political crisis to make investors nervous and bring mortgage rates lower.
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