This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bankrate: Mortgage Rates Fall To 3-Month Low

NEW YORK, Sept. 26, 2013 /PRNewswire/ -- Mortgage rates declined for a third week in a row, with the benchmark 30-year fixed mortgage rate plunging to 4.47 percent, according to's weekly national survey. The average 30-year fixed mortgage has an average of 0.33 discount and origination points.


To see mortgage rates in your area, go to

The average 15-year fixed mortgage fell to 3.53 percent, while the larger jumbo 30-year fixed mortgage rate dropped to 4.64 percent. Adjustable rate mortgages were lower also, with the popular 5-year adjustable rate dropping to 3.41 percent and the 7-year ARM now at 3.77 percent.   

The Federal Reserve's decision not to begin tapering their stimulus will give mortgage shoppers a reprieve from rising rates, but only until the tapering starts. As for when that will be, much depends on the outcome of the government budget and debt ceiling debates. If they are resolved smoothly and without incident, the Fed could taper as soon as their next meeting in late October.

As recently as May 1 st, 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 4.47 percent, the monthly payment for the same size loan would be $1,009.81, a difference of $109 per month for anyone that waited too long.


30-year fixed: 4.47% -- down from 4.66% last week (avg. points: 0.33)15-year fixed: 3.53% -- down from 3.70% last week (avg. points: 0.23)5/1 ARM: 3.41% -- down from 3.55% last week (avg. points: 0.21)

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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs