Interest Rate Roundup
- 30-year fixed: 3.86%
- Average points: 0.22
Mortgage rates rose this week, according to Bankrate's latest survey of interest rates.
The average rate for a 30-year fixed mortgage rose 7 basis points to 3.86 percent. The average rate for a 15-year fixed-rate mortgage rose 4 basis points to 3.07 percent. A basis point is one-hundredth of 1 percent.
The rate for a typical 30-year jumbo mortgage rose 5 basis points to 3.97 percent. A jumbo mortgage is a loan that usually exceeds $417,000.
The 5/1 adjustable-rate mortgage ticked up 2 basis points to 3.11 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.