- 4.25% (30-year fixed)
- 0.39 (average points)
Mortgage rates were mixed this week after the Fed signaled it won't provide another round of economic stimulus.
The 30-year fixed-rate mortgage rose 2 basis points to 4.25 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate fell 2 basis points to 3.42 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 4.77 percent, the same as last week.
The 5/1 adjustable-rate mortgage rose 1 basis point to 3.15 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
The volume of mortgage applications increased 4.8 percent last week, compared to one week earlier, according to the Mortgage Bankers Association.