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Bobby Lehmkuhl & Danielle Dutcher's Blog

By Bobby LehmKuhl | Broker in 90265

Mortgage Rates Continue to Rise - www.4Malibu.com

Mortgage rates increased again this week, with the benchmark conforming 30-year fixed mortgage rate rising to 5.01%, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.41 discount and origination points.

The average 15-year fixed mortgage jumped to 4.25%, and the larger jumbo 30-year fixed rate moved up to 5.55%. Adjustable rate mortgages were higher, as well, with the average 5-year ARM climbing to 3.89% and the 7-year ARM rising to 4.23%.


Mortgage rates climbed as worries eased over recent global events and investors returned to a risk-taking mindset, whether they be corporate mergers and acquisitions, or individual investors moving money from cash to stocks.


While the same global events persist—Japan’s nuclear crisis, Europe’s debt issues, and conflict in Libya—there was less worry about possible downside to the economy, and mortgage rates notched higher. Mortgage rates are closely related to yields on long-term government bonds, a frequent safe haven when investors’ nerves are frayed.


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