A number of benchmark mortgage rates held firm in the Seattle area this week.

Benchmark 30-year rate flat in Seattle

According to Bankrate’s national survey of large lenders, the average rate on the benchmark 30-year fixed-rate mortgage rate for the Seattle area held at 4.15 percent. The local rate was more than the national rate of 4.09 percent.

Mortgages in this week’s survey had an average of 0.56 discount and origination points.

With the most popular mortgage rate doing a whole lot of nothing, 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, remaining at $802.07.

No clear direction for other Seattle mortgage types

The average rate for 30-year jumbo mortgages also didn’t move this week, remaining at 4.33 percent. Jumbo mortgages are used for loan amounts above limits set by the Federal Housing Finance Agency; for the Seattle area, that limit is $592,250.

The average rate for 15-year fixed-rate mortgages climbed to 3.65 percent, up 2 basis points from last week. Monthly payments on a hypothetical $165,000, 15-year fixed-rate mortgage ticked up along with rates, adding $1.63 to $1,191.75.

Because the 15-year fixed is a popular mortgage for homeowners who want to refinance, the increase means that a refi is less advantageous than it would have been before the rate rise.

The popular 5/1 adjustable-rate mortgage rate stood at 3.63 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 December 13, 2017. Monthly payments are for a $165,000 loan. The jumbo rate is for the minimum jumbo loan amount of $592,250 in the Seattle area.
30-year fixed 15-year fixed 5-year ARM 30-year jumbo
This week’s rate: 4.15% 3.65% 3.63% 4.33%
Change from last week: N/C +0.02 N/C N/C
Monthly payment: $802.07 $1,191.75 $752.95 $2,941.32
Change from last week: N/C +$1.63 N/C N/C

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.”