Video: Mortgage rates for May 24, 2012

I’m Greg McBride with and here is your weekly look at mortgage rates.

Mortgage rates were little changed this week, remaining at record low levels. The average rate on the benchmark 30-year fixed rate mortgage was unchanged at the record low of 3.97 percent.

The average 15-year fixed mortgage rate – a popular choice for those that are refinancing – inched lower to a new record of 3.19 percent. On larger loans, the average rate on the jumbo 30-year fixed rate mortgage remained at the record low of 4.52 percent.

Adjustable mortgages were mixed once again. The 3-year adjustable held at 3.11 percent while the 5-year and 7-year adjustables both a bit higher, to 3.02 percent and 3.16 percent, respectively.

Nervousness about the European debt crisis and the future of the euro continue to hold sway over financial markets, including mortgage rates. Any time uncertainty prevails it is a recipe for low mortgage rates as investors flock to the safety of U.S. Treasury securities, to which mortgage rates are closely related. These issues in Europe have lingered for 2 years and they’re not likely to solve anything right away, so the odds certainly favor an environment where mortgage rates remain low.

Whether you’re buying a home or refinancing the one you already own, it is important to shop around for the best deal. To find the lowest mortgage rates in your area, use the free search engine at

I’m Greg McBride.

Article source:


  1. [...] Here to Get Great Rates And A Speedy Approval From Lending Tree Without Any Hassels. Go to Source Many mortgage lenders began yesterday with a conservative rates strategy after ealy weakness in the …many of the lenders, who were priced conservatively at the outset, to issue price improvements by [...]

Speak Your Mind


Password Reset

Please enter your e-mail address. You will receive a new password via e-mail.

PLEASE NOTE: This is not an offer to sell securities. Any person, entity, or organization must first be qualified by the company and read all of the offering documents and attest to reading and fully understanding such documents. Our company and its affiliates are not licensed securities dealers or brokers and as such, do not hold themselves to be. This website should be construed as informational and not as an advertisement soliciting for any particular purpose. All securities herein discussed have not been registered or approved by any securities regulatory agency in accordance with the securities act of 1933 or any state securities laws