Mortgage rates were little changed, with the benchmark 30-year fixed mortgage rate holding at 3.80 percent, according to a release of Bankrate.com’s weekly national survey. The 30-year fixed mortgage has an average of 0.30 discount and origination points.

The survey is complemented by Bankrate’s weekly Rate Trend Index, in which a panel of experts predicts which way the rates are headed over the next seven days. There is no clear consensus among the panelists this week:

  • 46 percent expecting rates to remain more or less unchanged over the next week.
  • 31 percent forecasting a decrease.
  • 23 percent predict an increase in mortgage rates over the coming week.
Mortgage rates remain unchanged in latest Bankrate survey

Bankrate mortgage chart last three months

The average 15-year fixed mortgage inched lower to 3.12 percent while the larger jumbo 30-year fixed mortgage remained at 4.02 percent. Adjustable rate mortgages moved modestly higher, with the 5-year ARM inching upward to 3.20 percent and the 7-year ARM climbing to 3.41 percent.

Mortgage rates have entered a period of calm, remaining at the lowest levels since May 2013.

Although the U.S. economy is improving, not much has changed on the global stage, with continued weakness and slower growth in both developed and emerging markets worldwide. This has helped sustain a high level of demand for the safety of U.S. Treasury securities, keeping both bond yields and mortgage rates low. Mortgage rates are closely related to yields on long-term government bonds.

One year ago, the average 30-year fixed mortgage rate was 4.43 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,005.07. With the average rate now at 3.80 percent, the monthly payment for the same size loan would be $931.91, a savings of approximately $73 per month for anyone refinancing now.

To see mortgage rates in your area click here.

Mortgage rate survey

  • 30-year fixed: 3.80% — unchanged from last week (avg. points: 0.30)
  • 15-year fixed: 3.12% — down from 3.13% last week (avg. points: 0.16)
  • 5/1 ARM: 3.20% — up from 3.19% last week (avg. points: 0.21)

Bankrate’s national weekly  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 click here.

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