- 4.39 (30-year fixed)
- 0.3 (average points)
Mortgage rates were quiet this week as investors waited for Congress to reach an agreement to pass a budget and raise the debt ceiling.
The 30-year fixed-rate mortgage fell 2 basis points to 4.39 percent. A basis point is one-hundredth of 1 percentage point.
The 15-year fixed-rate mortgage was 3.47 percent, the same as last week. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, stayed at 4.58 percent.
The 5/1 adjustable-rate mortgage fell 6 basis points to 3.34 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.
More From Bankrate.com
- Investing Education
- basis points