- 3.52% (30-year fixed)
- 0.33 (average points)
Mortgage rates dipped for the seventh consecutive week, as the Federal Reserve renewed its pledge to keep rates down.
The 30-year fixed-rate mortgage fell 5 basis points to 3.52 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate mortgage fell 5 basis points to 2.75 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 5 basis points to 3.93 percent.
The 5/1 adjustable-rate mortgage fell 2 basis points to 2.63 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
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