- 4.3% (30-year fixed)
- 0.3 (average points)
Mortgage rates snoozed this week as investors tried to make sense of a series of recent mixed economic news.
The 30-year fixed-rate mortgage fell 1 basis point to 4.3 percent. A basis point is one-hundredth of 1 percent.
The 15-year fixed-rate mortgage also fell 1 basis point to 3.4 percent.
The average rate for a 30-year jumbo mortgage rose 4 basis points to 4.37 percent. A jumbo mortgage is generally a loan of more than $417,000.
The 5/1 adjustable-rate mortgage was 3.33 percent, unchanged from last week. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
The volume of mortgage applications from buyers and refinancers decreased 3.6 percent last week from one week earlier, according to the Mortgage Bankers Association weekly survey.