- 4.25% (30-year fixed)
- 0.35 (average points)
Mortgage rates moved slightly higher this week as investors panicked over Italy's debt crisis.
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 rose 2 basis points to 3.5 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 5 basis points to 4.76 percent.
The 5/1 ARM fell 2 basis points to 3.16 percent. With a 5/1 ARM the rate is fixed for five years and adjusted annually thereafter.