- 4.48% (30-year fixed)
- 0.30 (average points)
Mortgage rates increased this week as reports on home sales showed signs that the housing market may be slowing.
The 30-year fixed-rate mortgage rose 5 basis points to 4.48 percent. A basis point is one-hundredth of 1 percent.
The 15-year fixed-rate mortgage rose 6 basis points to 3.54 percent. The average rate for a 30-year jumbo mortgage rose 4 basis points to 4.47 percent. A jumbo mortgage is generally a loan of more than $417,000.
The 5/1 adjustable-rate mortgage rose 2 basis points to 3.34 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.