Mortgages
- 3.81% (30-year fixed)
- 0.39 (average points)
Mortgage rates barely changed this week as investors awaited for the Federal Reserve's decision on additional economic stimulus.
The 30-year fixed-rate mortgage rose 2 basis points to 3.81 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate mortgage was 3.04 percent, the same as last week. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, rose 3 basis points to 4.36 percent.
The 5/1 adjustable-rate mortgage fell 1 basis point to 2.75 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
The volume of mortgage applications decreased 11.1 percent last week compared to one week earlier, according to the Mortgage Bankers Association.