mortgage

National mortgage rates for Jan. 29, 2015

Interest Rate Roundup

Find the best mortgage rates in your area.

Mortgages

  • 30-year fixed: 3.8%
  • Average points: 0.29

Mortgage rates inched down this week as the Federal Reserve remained committed to keeping rates low until midyear.

The 30-year fixed-rate mortgage fell 1 basis point to 3.8 percent. A basis point is one-hundredth of 1 percent.

The 15-year fixed-rate mortgage fell 5 basis points to 3.13 percent. The average rate for a 30-year jumbo mortgage rose 1 basis point 4.02 percent. A jumbo mortgage is generally a loan of more than $417,000.

The 5/1 adjustable-rate mortgage was 3.19 percent, the same as last week. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

 

 

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