- 3.74% (30-year fixed)
- 0.32 (average points)
Mortgage rates jumped for the third consecutive week as the Federal Reserve hinted that it may slow down its bond-buying program in coming months.
The 30-year fixed-rate mortgage rose 3 basis points to 3.74 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate mortgage rose 5 basis points to 2.97 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 3.99 percent, the same as last week.
The 5/1 adjustable-rate mortgage rose 2 basis points to 2.7 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.