- 3.73% (30-year fixed)
- 0.33 (average points)
Mortgage rates fell this week after Italy's inconclusive election results shook financial markets around the world.
The 30-year fixed-rate mortgage fell 7 basis points to 3.73 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate mortgage fell 6 basis points to 2.96 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 11 basis points to 4.1 percent.
The 5/1 adjustable-rate mortgage fell 8 basis points to 2.68 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.