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Mortgage rates mostly sat still Wednesday, with the most trendy home loan types remaining flat and a few fixed-rate averages dropping just a point or two. This follows rates bolting Monday to their peak averages since March.
National Averages of Lenders' Best Rates
| Loan Type | Purchase | Refinance |
|---|---|---|
|
30-Year Fixed |
3.25% |
3.36% |
|
FHA 30-Year Fixed |
3.08% |
3.30% |
|
Jumbo 30-Year Fixed |
3.42% |
3.57% |
|
15-Year Fixed |
2.50% |
2.60% |
|
5/1 ARM |
2.91% |
3.45% |
After going up Monday to their peak level in seven months, and approaching their most pricey territory of the calendar year, most mortgage rate averages have come down to some extent over the last two days.
The 30-year fixed-rate average held stable at 3.25%. Compared to early August’s major rate decrease, when the 30-year rate sank to 2.89%, today’s average is at the moment 0.36 percentage points higher.
Meanwhile, the 15-year fixed average dropped a single point Wednesday, to 2.50%, and the Jumbo 30-year average stayed flat for a third day, at 3.42%.
These rates are now 0.29 and 0.36 percentage points, in that order, above their early-August lows.
Refinance rates for the majority of popular loans saw no movement Wednesday, with averages dipping slightly in other refinance products.
Rates to refinance 30-year and 15-year loans are presently priced 10 to 15 basis points more expensive than new purchase rates.
National Averages of Lenders' finest Rates - New Purchase
| Loan Type | Purchase | Daily Change |
|---|---|---|
|
30-Year Fixed |
3.25% |
No Change |
|
FHA 30-Year Fixed |
3.08% |
-0.02 |
|
VA 30-Year Fixed |
3.12% |
-0.02 |
|
Jumbo 30-Year Fixed |
3.42% |
No Change |
|
20-Year Fixed |
3.04% |
-0.02 |
|
15-Year Fixed |
2.50% |
-0.01 |
|
Jumbo 15-Year Fixed |
3.12% |
-0.01 |
|
10-Year Fixed |
2.44% |
-0.01 |
|
10/1 ARM |
3.57% |
+0.01 |
|
10/6 ARM |
4.28% |
+0.04 |
|
7/1 ARM |
2.71% |
+0.06 |
|
Jumbo 7/1 ARM |
2.45% |
No Change |
|
7/6 ARM |
3.54% |
-0.09 |
|
Jumbo 7/6 ARM |
2.79% |
No Change |
|
5/1 ARM |
2.91% |
-0.14 |
|
Jumbo 5/1 ARM |
2.29% |
No Change |
|
5/6 ARM |
4.40% |
+0.03 |
|
Jumbo 5/6 ARM |
2.81% |
No Change |
National Averages of Lenders' finest Rates - Refinancing
| Loan Type | Refinance | Daily Change |
|---|---|---|
|
30-Year Fixed |
3.36% |
No Change |
|
FHA 30-Year Fixed |
3.30% |
-0.01 |
|
VA 30-Year Fixed |
3.38% |
-0.04 |
|
Jumbo 30-Year Fixed |
3.57% |
No Change |
|
20-Year Fixed |
3.18% |
-0.01 |
|
15-Year Fixed |
2.60% |
No Change |
|
Jumbo 15-Year Fixed |
3.35% |
+0.02 |
|
10-Year Fixed |
2.56% |
-0.01 |
|
10/1 ARM |
3.90% |
-0.10 |
|
10/6 ARM |
4.30% |
+0.04 |
|
7/1 ARM |
3.80% |
-0.04 |
|
Jumbo 7/1 ARM |
2.75% |
No Change |
|
7/6 ARM |
4.01% |
-0.02 |
|
Jumbo 7/6 ARM |
2.98% |
No Change |
|
5/1 ARM |
3.45% |
+0.10 |
|
Jumbo 5/1 ARM |
2.59% |
No Change |
|
5/6 ARM |
4.32% |
+0.09 |
|
Jumbo 5/6 ARM |
2.91% |
No Change |
Reference Source: Investopedia
