- 4.3% (30-year fixed)
- 0.25 (average points)
Mortgage rates trended downward this week, according to Bankrate's latest survey of interest rates.
The 30-year fixed-rate mortgage fell 3 basis points to 4.3 percent. A basis point is one-hundredth of 1 percent.
For the second straight week, the average rate for a 15-year fixed-rate mortgage was 3.46 percent.
The average rate for a 30-year jumbo mortgage fell 6 basis points to 4.31 percent. A jumbo mortgage is typically a loan that exceeds $417,000.
The 5/1 adjustable-rate mortgage fell 3 basis points to 3.32 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.