Mortgage Rate Trends for the week 07/20/2007

Once again Atlanta mortgage rates experienced a slight increase over the course of the past seven days.  According to Bankrate.com’s national survey of large lenders, the 30-year fixed rate mortgage rate rose four basis points over this time to end this week at 6.82 per cent.  Likewise, the 15-year fixed rate mortgage rate also saw a four basis point increase this week to end the week at 6.5 per cent.  The smallest week-on-week rise was seen with 5-year adjustable rate mortgage rates, which ended the week at 6.56 per cent, an increase of two basis points from last week.  An increase of one basis point is equal to an increase of one hundredth of one percentage point.