Mortgage rates broke a five-week long streak of declines, with the benchmark 30-year fixed mortgage rate increasing 4.48 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.33 discount and origination points.
The average 15-year fixed mortgage notched higher to 3.53 percent, and the larger jumbo 30-year fixed mortgage stepped up to 4.5 percent. Adjustable rate mortgages were mixed, with the average 3-year adjustable moving down to 3.31 percent, while the 5-year and 7-year each moved higher, to 3.32 percent and 3.61 percent, respectively. The 10-year ARM was unchanged, holding for a third consecutive week at 3.99 percent, Bankrate said in a release.
SURVEY RESULTS
30-year fixed: 4.48% — up from 4.43% last week (avg. points: 0.33)
15-year fixed: 3.53% — up from 3.50% last week (avg. points: 0.21)
5/1 ARM: 3.32% — up from 3.27% last week (avg. points: 0.24)
Bankrate’s national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.
To see mortgage rates in your area click here.
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