New Mortgage Rate Update

The mortgage rate for a 30-year fixed rate rose this week. It’s up 4 basis points from this time last week at 3.63 percent. For most of the week it floated around 3.60 percent, until settling on its current spot. It managed to stay flat while fending off central bank movements in Europe and China.

For the 15-year fixed mortgage rate, it settled on 2.82 percent, and for the 5/1 ARMS, the rate is 2.77 percent.  

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