Multiple key mortgage rates were unchanged in the Kansas City area this week.

Key 30-year rate remains unchanged in Kansas City

According to Bankrate’s national survey of large lenders, the average rate on the benchmark 30-year fixed-rate mortgage rate for the Kansas City area remained at 3.96 percent.

For mortgages in this week’s survey, there were an average of 0.20 discount and origination points.

With the most popular mortgage rate standing still, it’s neither good news nor bad news for potential borrowers who were waiting to lock a mortgage rate.

Monthly payments on a hypothetical $165,000 30-year fixed-rate mortgage were also consistent, staying at $783.94.

Other Kansas City mortgage types mixed

On the other hand, the average rate for 30-year jumbo mortgages rose this week, rising 6 basis points to 4.00 percent. Jumbo mortgages are used for loan amounts above limits set by the Federal Housing Finance Agency; for the Kansas City area, that limit is $424,100.

The average rate for 15-year fixed-rate mortgages held tight, at 3.23 percent. Monthly payments on a hypothetical $165,000 15-year fixed-rate mortgage held, remaining at $1,157.80.

The 15-year fixed is a popular mortgage for homeowners who want to refinance. Rates remaining the same doesn’t help or hurt for refinancers thinking about locking soon.

The popular 5/1 adjustable-rate mortgage rate remained unchanged at 3.10 percent. The most common variety of variable-rate mortgage, 5/1 ARMs allow property owners to pay a fixed rate for the first 5 years, and the rate adjusts once per year every year after.

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Weekly mortgage survey

Results from Bankrate’s survey of mortgage lenders conducted November 15, 2017. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $424,100 in the Kansas City area.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week’s rate: 3.96% 3.23% 3.10% 4.00%
Change from last week: N/C N/C N/C +0.06
Monthly payment: $783.94 $1,157.80 $704.58 $2,024.72
Change from last week: N/C N/C N/C +$14.70

Methodology: The “Bankrate.com National Average,” or “national survey of large lenders,” is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the Bankrate.com national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We’ve conducted this survey in the same manner for more than 30 years, and because it’s consistently done the way it is, it gives an accurate national apples-to-apples comparison.

To learn more about the different rate averages Bankrate publishes, see “Understanding Bankrate’s Rate Averages.”