Another record low set in December's first mortgage rate survey

Five colorful houses in graduated sizes

Jumbo mortgages set yet another record in’s most recent mortgage rate survey of major lenders.

All four of the major types of home loans we track have remained close to the all-time lows they established this fall.

But jumbo loans -- which are home loans for more than $417,000 to $625,000, depending on the city -- just keep dropping.

After reaching a 2011 high of 5.74% in February, the average cost of a jumbo loan has fallen over the past 10 months, reaching a new record low of 4.74% in our last two November surveys.

Now it's dropped to 4.68%, which is less than half a point more than the cost of a similar non-jumbo loan.

Our Dec. 7 survey found the average interest rate for a:

30-year, fixed-rate loan fell slightly to 4.24% this week from 4.25% last week. The record low was 4.21% on Oct. 5, 2011.

15-year, fixed-rate loan held steady at 3.48% this week. This mortgage reached its record low, 3.42%, on Sept. 21.

5-year, adjustable-rate loan declined this week, falling from 3.21% to 3.18%. Five-year ARMs declined to a record low of 3.05% on Sept. 21.

Our database of interest rates can help you find the best deals in your area, including many that are less costly than the national averages.

You can use our home loan calculator to determine the monthly payments for the exact amount you want to borrow with this or any home loan.

It will also provide a month-by-month amortization schedule that shows how much you've reduced your debt and how much you still owe.

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