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National mortgage rates for May 16, 2013

Interest Rate Roundup
Mortgage rate graph
Find the best mortgage rates in your area.

Mortgages

  • 3.71% (30-year fixed)
  • 0.34 (average points)

Mortgage rates climbed for the second consecutive week, but the rate on the most popular type of mortgage remains lower than it was six weeks ago.

The 30-year fixed-rate mortgage rose 11 basis points to 3.71 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate mortgage rose 10 basis points to 2.92 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 1 basis point to 3.99 percent.

The 5/1 adjustable-rate mortgage rose 4 basis points to 2.68 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

 

 

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Mortgage Overnight Averages
Product Rate +/- Last week
30 yr fixed mtg
3.67% 3.62%
15 yr fixed mtg
2.80% 2.76%
5/1 ARM
2.60% 2.58%
30 yr fixed mtg refi
3.65% 3.61%
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