- 3.79% (30-year fixed)
- 0.34 (average points)
Mortgage rates ticked up this week as many investors remained bullish on the economy, while they wait for Congress to reach a deal to avert massive spending cuts.
The 30-year fixed-rate mortgage rose 3 basis points to 3.79 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate mortgage rose 2 basis points to 3.02 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, rose 2 basis points to 4.19 percent.
The 5/1 adjustable-rate mortgage fell 1 basis point to 2.75 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
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