mortgage

National mortgage rates for May 28, 2015

Interest Rate Roundup

Find the best mortgage rates in your area.

Mortgages

  • 30-year fixed: 4%
  • Average points: 0.23

Mortgage rates fell this week, according to Bankrate's May 27 survey of interest rates.

The average rate for a 30-year fixed-rate mortgage fell 3 basis points to 4 percent. The average rate for a 15-year fixed-rate mortgage ticked down 1 basis point to 3.22 percent. A basis point is one-hundredth of 1 percent.

The typical 30-year jumbo mortgage dropped 6 basis points to 4.07 percent. A jumbo mortgage is typically a loan that exceeds $417,000.

The 5/1 adjustable-rate mortgage fell 2 basis points to 3.17 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.

 

 

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