Interest Rate Roundup
- 30-year fixed: 4.03%
- Average points: 0.23
Mortgage rates rose this week, according to Bankrate's latest survey of interest rates.
The average rate for a 30-year fixed-rate mortgage rose 2 basis points to 4.03 percent. The rate for a typical 15-year fixed-rate mortgage inched up 1 basis point to 3.23 percent. A basis point is one-hundredth of 1 percent.
The average rate for a 30-year jumbo mortgage rose 4 basis points to 4.13 percent. A jumbo mortgage is typically a loan that exceeds $417,000.
The 5/1 adjustable-rate mortgage rose 2 basis points to 3.19 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.