- 4.14% (30-year fixed)
- 0.32 (average points)
Mortgage rates inched up from record lows this week after a positive jobs report.
The 30-year fixed-rate mortgage rose 2 basis points to 4.14 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate rose 2 basis points to 3.36 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 4.55 percent, the same as last week.
The 5/1 ARM rose 3 basis points to 3.05 percent. With a 5/1 ARM the rate is fixed for five years and adjusted annually thereafter.
The volume of mortgage applications increased 7.5 percent last week compared to one week earlier, according to the Mortgage Bankers Association.