mortgage

National mortgage rates for April 16, 2015

Interest Rate Roundup

Find the best mortgage rates in your area.

Mortgages

  • 30-year fixed: 3.79%
  • Average points: 0.21

Mortgage rates were mixed week, according to Bankrate's latest survey of interest rates.

The average rate for a 30-year fixed-rate mortgage fell 3 basis points to 3.79 percent. The average rate for a 15-year fixed-rate mortgage ticked down 1 basis point to 3.03 percent.

A basis point is one-hundredth of 1 percent.

The rate for a 30-year jumbo mortgage fell 2 basis points to 3.9 percent. A jumbo mortgage is a loan that usually exceeds $417,000.

The 5/1 adjustable-rate mortgage rose 2 basis points to 3.08 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

 

 

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