- 4.01% (30-year fixed)
- 0.23 (average points)
Mortgage rates fell again this week, according to Bankrate's latest survey of interest rates.
The 30-year fixed-rate mortgage plunged 17 basis points to 4.01 percent, and the 15-year fixed-rate mortgage dropped 14 basis points to 3.23 percent.
A basis point is one-hundredth of 1 percent.
The 30-year jumbo mortgage fell 12 basis points to 4.09 percent. A jumbo mortgage is typically a loan that exceeds $417,000.
The 5/1 adjustable-rate mortgage was 3.09 percent, tumbling 18 basis points. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.