- 4.2% (30-year fixed)
- 0.35 (average points)
Mortgage rates barely changed this week, remaining near record lows.
The 30-year, fixed-rate mortgage rose 1 basis point to 4.2 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate was 3.42, unchanged from last week. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 3 basis points to 4.66 percent.
The 5/1 ARM fell 3 basis points to 3.18 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
The volume of mortgage applications decreased 2.6 percent last week, compared to one week earlier, according to the Mortgage Bankers Association. Refinances accounted for 80.7 percent of all applications.