- 3.96% (30-year fixed)
- 0.34 (average points)
Rates on mortgages trended upward this week, according to Bankrate's latest survey of interest rates.
The 30-year fixed-rate mortgage ticked up 2 basis points to 3.96 percent. The average rate for a 15-year fixed-rate mortgage rose 4 basis points to 3.25 percent. A basis point is one-hundredth of 1 percent.
The average rate for a 30-year jumbo mortgage rose 5 basis points to 4.09 percent. A jumbo mortgage is typically a loan that exceeds $417,000.
The 5/1 adjustable-rate mortgage rose 7 basis points to 3.28 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.