- 4.28% (30-year fixed)
- 0.3 (average points)
Mortgage rates had mixed results this week, according to Bankrate's latest survey of interest rates.
The average 30-year fixed-rate mortgage fell 2 basis points to 4.28 percent, while the average 15-year fixed-rate mortgage rose 1 basis point to 3.41 percent.
A basis point is one-hundredth of 1 percent.
The rate for a 5/1 adjustable-rate mortgage gained 4 basis points, increasing to 3.37 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
The average rate for a 30-year jumbo mortgage fell 3 basis points to 4.34 percent. A jumbo mortgage is a loan that usually exceeds $417,000.
Mortgage applications increased 2.4 percent last week from one week earlier, according to a weekly survey conducted by the Mortgage Bankers Association.