- 4.23% (30-year fixed)
- 0.27 (average points)
Mortgage rates barely changed this week, according to Bankrate's latest survey of interest rates.
The 30-year fixed-rate mortgage inched down 1 basis point to 4.23 percent. The 15-year fixed-rate mortgage rose 1 basis point to 3.38 percent. A basis point is one-hundredth of 1 percent.
The average rate for a 30-year jumbo mortgage kept its place at 4.29 percent for the second straight week. A jumbo mortgage is generally a loan that exceeds $417,000.
The 5/1 adjustable-rate mortgage rose 4 basis points to 3.32 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.