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HSH.com Mortgage Rates Radar: Your first report on the mortgage market this week

Mortgage rates at virtual standstill this week


Rates on the most popular types of mortgages ticked slightly upward, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by a single basis point (0.01 percent) to 4.21 percent. Conforming 5/1 Hybrid ARM rates increased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.15 percent.

Mortgage rates consistently low

"Mortgage rates continue to hang around low levels, but for every bright spot of economic news, there seems to be a countervailing force on rates, keeping them down" said Keith Gumbinger, vice president of HSH.com. "Better news on jobs, housing, and a recent pattern of solid growth are being offset by troubles in the Middle East and the Ukraine, giving investors ample reason to stash cash in the safety of U.S. markets."

Major stock markets continue to flirt with record high levels, and U.S.-backed bonds and mortgage debt continue to find willing buyers, even at today's relatively low yields. In more normal times of ongoing stock rallies it is more common to see money move out of bonds and into stocks, lifting bond yields and mortgage rates, even as it buoys stock markets further.

Rates bound to rise by natural causes

"At some point, mortgage rates will again be moved upward by the more traditional influences of growth and inflation, but for the moment, they are being kept low by many other forces," adds Gumbinger. "Bad news continues to be a friend of the mortgage shopper, and if any kind of ‘correction’ should happen in sky-high stock markets, rates would even have some space to fall from these already low levels."

Current mortgage rates

Average mortgage rates and points for conforming residential mortgages for the week ending July 22, according to HSH.com:

HSH.com Mortgage Rates Radar - Four Week Trend

Conforming 30-year fixed-rate mortgage

  • Average rate:   4.21 percent
  • Average points: 0.19

Conforming 5/1-year adjustable-rate mortgage

  • Average rate:   3.15 percent
  • Average points: 0.10

Average mortgage rates and points for conforming residential mortgages for the previous week ending July 15 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

  • Average Rate:   4.20 percent
  • Average Points: 0.17

Conforming 5/1-year adjustable-rate mortgage

  • Average Rate:   3.13 percent
  • Average Points: 0.07


The Weekly Mortgage Rates Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rates Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.

Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.

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