mortgage

National mortgage rates for Feb. 26, 2015

Interest Rate Roundup

Find the best mortgage rates in your area.

Mortgages

  • 30-year fixed: 3.9%
  • Average points: 0.3

Mortgage rates dropped this week as the Federal Reserve reassured investors that it is not in a rush to raise the federal funds rate.

The 30-year fixed-rate mortgage fell 6 basis points to 3.9 percent. A basis point is one-hundredth of 1 percent.

The 15-year fixed-rate mortgage fell 6 basis points to 3.15 percent. The average rate for a 30-year jumbo mortgage fell 4 basis points to 4.07 percent. A jumbo mortgage is generally a loan of more than $417,000.

The 5/1 adjustable-rate mortgage fell 9 basis points to 3.22 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

 

 

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