- 4.25% (30-year fixed)
- 0.37 (average points)
Mortgage rates inched up this week as the stock market rallied, but they remain near record lows.
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 1 basis point to 3.48. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, was 4.74 percent, unchanged from last week.
The 5/1 ARM rose 1 basis point to 3.21 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.