- 4.48% (30-year fixed)
- 0.33 (average points)
Mortgage rates climbed this week as investors seemed optimistic after new Federal Reserve Chair Janet Yellen reassured Congress that the economy continues to grow.
The 30-year fixed-rate mortgage rose 5 basis points to 4.48 percent. A basis point is one-hundredth of 1 percent.
The 15-year fixed-rate mortgage rose 3 basis points to 3.53 percent. The average rate for a 30-year jumbo mortgage rose 3 basis points to 4.5 percent. A jumbo mortgage is generally a loan of more than $417,000.
The 5/1 adjustable-rate mortgage rose 5 basis points to 3.32 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
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