- 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.