NEW YORK, Aug. 20 /PRNewswire/ -- The average 30-year fixed mortgage rate fell to 5.52 percent this week, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.36 discount and origination points. (Logo: http://www.newscom.com/cgi-bin/prnh/20040122/FLTHLOGO) The average 15-year fixed rate mortgage fell to 4.84 percent, while the average jumbo 30-year fixed rate inched lower to 6.44 percent. Adjustable rate mortgages were lower, with the average 1-year ARM dipping to 5.19 percent and the 5-year ARM dropping to 4.86 percent. A renewed bout of economic uncertainty brought mortgage rates to the lowest level since late May. Skepticism about the sustainability of an economic rebound with the American consumer ailing led investors to pull money out of stocks and park it in the safety of government bonds. Mortgage rates are closely related to yields on long-term government bonds. The recent downturn in mortgage rates has also brought rates for larger jumbo loans to a three-month low. Mortgage rates are more than one full percentage point lower than one year ago. This time last year, the average 30-year fixed mortgage rate was 6.66 percent, meaning a $200,000 loan would have carried a monthly payment of $1,285.25. With the average rate now 5.52 percent, the monthly payment for the same size loan would be $1,138.09, a savings of $147 per month for a homeowner refinancing now. SURVEY RESULTS 30-year fixed: 5.52% -- down from 5.67% last week (avg. points: 0.36) 15-year fixed: 4.84% -- down from 4.93% last week (avg. points: 0.32) 5/1 ARM: 4.86% -- down from 4.93% last week (avg. points: 0.35) 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 http://www.bankrate.com/mortgagerates The survey is complemented by Bankrate's weekly forward-looking Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next 30 to 45 days. Rates probably aren't headed higher or lower, with 46 percent of panelists expecting mortgage rates to remain more or less unchanged over the next 30 to 45 days. The remaining respondents are evenly split, with 27 percent predicting an increase in rates and 27 percent forecasting a decline in mortgage rates in the next 30 to 45 days. For the full mortgage Rate Trend Index, go to http://www.bankrate.com/RTI About Bankrate, Inc. The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, Savingforcollege.com, Fee Disclosure, InsureMe, CreditCardGuide.com and Bankaholic.com. Each of these businesses helps consumers make informed decisions about their personal finance matters. The company's flagship brand, Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate.com is the leading aggregator of rates and other information on more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate.com reviews more than 4,800 financial institutions in 575 markets in 50 states. In 2008, Bankrate.com had nearly 72 million unique visitors. Bankrate.com provides financial applications and information to a network of more than 75 partners, including Yahoo! (NASDAQ:YHOO), America Online (NYSE: TWX), The Wall Street Journal and The New York Times (NYSE:NYT). Bankrate.com's information is also distributed through more than 500 newspapers. NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to Bankrate.com For more information contact: Chris Spagnuolo Public Relations Manager (917) 368-8671 http://www.newscom.com/cgi-bin/prnh/20040122/FLTHLOGO http://photoarchive.ap.org/ DATASOURCE: Bankrate, Inc. CONTACT: Chris Spagnuolo, Public Relations Manager, , +1-917-368-8671 Web Site: http://www.bankrate.com/

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