National mortgage rates for Oct. 3, 2013

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Mortgages

  • 4.41 (30-year fixed)
  • 0.27 (average points)

Mortgage rates fell for the fourth week in a row as the government shut down after Congress failed to reach a budget agreement.

The 30-year fixed-rate mortgage fell 6 basis points to 4.41 percent. A basis point is one-hundredth of 1 percentage point.

The 15-year fixed-rate mortgage fell 6 basis points to 3.47 percent. The average rate for 30-year jumbo mortgages, or generally for those of more than $417,000, fell 6 basis points to 4.58 percent.

The 5/1 adjustable-rate mortgage fell 1 basis point to 3.4 percent. With a 5/1 ARM, the rate is fixed for five years and adjusted annually thereafter.



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