Bankrate's national survey of lenders is showing that mortgage rates held steady last week, holding at 6.74 percent. The average 30-year fixed mortgage has an average of 0.25 discount and origination points. From the press release (no link available at time I published this):
The average 15-year fixed rate mortgage popular for refinancing inched higher to 6.41 percent. On larger loans, the average jumbo 30-year fixed rate nosed higher to 6.97 percent. Adjustable rate mortgages behaved the same, with the average one-year ARM and 5/1 ARM each rising, to 6.24 percent and 6.48 percent, respectively ... Fixed mortgage rates are roughly one-half percentage point higher than three months ago. At the time, the average 30-year fixed mortgage rate was 6.25 percent, meaning that a $165,000 loan would have carried a monthly payment of $1,015.93. With the average 30-year fixed rate now 6.74 percent, the same loan originated today would carry a monthly payment of $1,069.09. Fixed mortgage rates still remain the better refinancing alternative for adjustable rate borrowers facing sharp payment adjustments.
Although yields on Treasury notes declined below the 5 percent barrier this past week, mortgage rates showed little movement in return. That may change this week as markets digest data from before the July 4th holiday.