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Press release from PR Newswire

Bankrate: Mortgage Rates Holding Steady Ahead of Fed

Thursday, December 12, 2013

Bankrate: Mortgage Rates Holding Steady Ahead of Fed

07:30 EST Thursday, December 12, 2013

NEW YORK, Dec. 12, 2013 /PRNewswire/ -- Mortgage rates were mostly steady this week, with the benchmark 30-year fixed mortgage rate unchanged at 4.55 percent, according to's weekly national survey. The average 30-year fixed mortgage has an average of 0.39 discount and origination points.

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To see mortgage rates in your area, go to

The average 15-year fixed mortgage dipped to 3.6 percent, while the larger jumbo 30-year fixed mortgage rate was down to 4.55 percent. The spread between the benchmark 30-year fixed rate and the larger jumbo 30-year fixed rate has been completely erased for the first time ever in's survey. Adjustable rate mortgages were mixed, with the average 3-year ARM retreating to 3.28 percent, while the 5-year and 7-year each inched higher, to 3.34 percent and 3.70 percent, respectively.

The strength in recent economic data, particularly on the job front, means tapering will be part of the discussion when the Federal Open Market Committee meets next week. Don't expect any notable moves in bond yields or mortgage rates until the conclusion of the meeting and the announcement of whether the Fed will begin tapering now, or wait until 2014. Mortgage rates are closely related to yields on long-term government bonds.

As recently as May 1st, the average 30-year fixed mortgage rate was 3.52 percent. At that time, a $200,000 loan would have carried a monthly payment of $900.32. With the average rate currently at 4.55 percent, the monthly payment for the same size loan would be $1,019.32, a difference of $119 per month for anyone that waited too long.


30-year fixed: 4.55% -- unchanged from last week (avg. points: 0.39)

15-year fixed: 3.60% -- down from 3.62% last week (avg. points: 0.26)

5/1 ARM: 3.34% -- up from 3.33% last week (avg. points: 0.26)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. More than half of this week's respondents, 56 percent, expect mortgage rates to remain more or less unchanged over the coming week, while 33 percent predict mortgage rates will rise. Just 11 percent forecast a decrease in mortgage rates in the next week.

For the full mortgage Rate Trend Index, go to

To download the Bankrate Mortgage Calculator & Mortgage Rates iPhone App 2.0 go to

About Bankrate, Inc.

Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes, our flagship website, and other owned and operated personal finance websites, including,,,,,,,, and Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of nearly 600 local markets in all 50 U.S. states, Bankrate generates over 172,000 distinct rate tables capturing on average over three million pieces of information daily. Bankrate develops and provides web services to over 80 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, CNN Money, CNBC, and Comcast. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.

For more information contact:Kayleen YatesSenior Director, Corporate (917) 368-8677

SOURCE Bankrate, Inc.

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