- 4.24% (30-year fixed)
- 0.36 (average points)
Mortgage rates barely changed this week and remained near record lows as cash fled the European debt crisis.
The 30-year fixed-rate mortgage fell 1 basis point to 4.24 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate fell 3 basis points to 3.47 percent. The average rate for a 30-year jumbo mortgage, generally those for more than $417,000, rose 1 basis point to 4.77 percent.
The 5/1 ARM rose 1 basis point to 3.17 percent. With a 5/1 ARM, the rate is fixed for five years and is adjusted annually thereafter.