- 3.78% (30-year fixed)
- 0.37 (average points)
Mortgage rates receded this week as investors kept their eyes on the debt crisis in Cyprus and sought safety in U.S. mortgage and Treasury bonds.
The 30-year fixed-rate mortgage fell 7 basis points to 3.78 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate mortgage fell 6 basis points to 2.97 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 5 basis points to 4.13 percent.
The 5/1 adjustable-rate mortgage fell 11 basis points to 2.71. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
More From Bankrate.com
- Mortgage Loans
- basis points