Interest Rate Roundup
- 30-year fixed: 3.63%
- Average points: 0.23
Mortgage rates were mixed this week, according to Bankrate's latest survey of large lenders.
The benchmark 30-year fixed-rate mortgage rose 3 basis points to 3.63%. The benchmark 15-year fixed-rate mortgage also rose 3 basis points to 2.89%.
A basis point is one-hundredth of 1%.
The typical 30-year fixed-rate jumbo fell 2 basis points to 3.69%. For the purposes of Bankrate's survey, a jumbo mortgage is a loan that is at least $650,000.
The average 5/1 adjustable-rate mortgage remained at 3.08%. With a 5/1 ARM, the rate is fixed for 5 years and adjusted annually thereafter.
Mortgage applications fell 11.2% from last week, according to the Mortgage Bankers Association's weekly survey.