Several key mortgage rates floated higher this week in California. According to our latest rate data, the average rates on 30-year fixed and 15-year fixed mortgages both floated higher. On the variable-mortgage side, the average rate on 5/1 adjustable-rate mortgages held firm.

The average 30-year fixed-mortgage rate in California today is 3.91 percent. That’s 10 basis points higher than last week. The national average, in comparison, is 3.92 percent. A month ago, the average rate on a 30-year fixed mortgage in California was lower, at 3.79 percent.

At the current average rate, you’ll pay $472.24 per month in principal and interest for every $100,000 you borrow. That’s $5.71 higher compared with last week.

In the market for a mortgage? Compare mortgage rates in California now.

15-year fixed mortgages

The average 15-year fixed-mortgage rate is 3.15 percent, up 5 basis points over the last week. That’s identical to the national average of 3.15 percent for this type of loan, which is often used for refinancing.

Monthly payments on a 15-year fixed mortgage at that rate will cost around $698 per $100,000 borrowed.

5/1 ARMs

The average rate on a 5/1 ARM is 3.34 percent, unchanged over the last week.

Monthly payments on a 5/1 ARM at 3.34 percent would cost about $440 for each $100,000 borrowed over the initial five years, but could climb hundreds of dollars higher afterward, depending on the loan’s terms.

Product Rate Change Last week
30-year fixed 3.91% 0.10 3.81%
15-year fixed 3.15% 0.05 3.10%
5/1 ARM 3.34% 0.00 3.34%
30-year fixed refinance 3.85% 0.09 3.76%
30-year fixed jumbo 4.49% 0.12 4.37%

Methodology: The rates you see above are Site Averages. These calculations are run after the close of the previous business day and include rates and/or yields we have collected that day for a specific banking product. site averages tend to be volatile — they help consumers see the movement of rates day to day. The institutions included in the “ Site Average” tables will be different from one day to the next, depending on which institutions’ rates we gather on a particular day for presentation on the site.

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