Interest Rate Roundup
- 30-year fixed: 3.93%
- Average points: 0.26
Mortgage rates edged up as investors reacted to mixed economic reports and the stock market rallied.
The 30-year fixed-rate mortgage rose 3 basis points to 3.93 percent. A basis point is one-hundredth of 1 percent.
The 15-year fixed-rate mortgage rose 1 basis point to 3.16 percent. The average rate for a 30-year jumbo mortgage rose 4 basis points to 4.11 percent. A jumbo mortgage is generally a loan of more than $417,000.
The 5/1 adjustable-rate mortgage rose 6 basis points to 3.28 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.