Mortgage rates largely stayed put this week, with the notable exception of the one-year adjustable-rate mortgage.

The average 30-year fixed-rate mortgage moved up a modest 5 basis points, to 6.16 percent. A basis point is one-hundredth of a percentage point.

The average 15-year fixed -- a popular option for refinancing -- ticked up 1 basis point, to 5.71 percent. The average jumbo 30-year fixed also moved up 1 basis point, to 7.35 percent.

The one-year adjustable-rate mortgage surged 41 basis points, to 6.96 percent. On the other hand, the popular 5/1 ARM rose a more modest 4 basis points, to 5.96 percent.

Mortgage application levels fell moderately for the second straight week. For the week ending April 25, activity plunged a seasonally adjusted 11.1 percent from a week earlier, according to the Mortgage Bankers Association.

Refinancing was down 16.7 percent while applications for purchase fell 5.2 percent.

-- Chris Kissell

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