Sep 21 2015 11947 2

Dated: September 21 2015

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Mortgage rates move up slightly

Interest rates on mortgages inched higher as monetary policymakers met. Read more

Weekly Mortgage Rates Analysis

30 yr fixed mtg:4.06% Average points:0.23 Updated:Sept. 17, 2015JULJULAUG4.02%4.08%4.14%4.20%

Mortgage rates barely budged this week, according to Bankrate.com's survey of interest rates.

The benchmark 30-year fixed-rate mortgage ticked up 1 basis point to 4.06%. The average 15-year fixed-rate mortgage rose 2 basis points to 3.25%.

A basis point is one-hundredth of 1%.

The average 30-year fixed-rate jumbo mortgage rose 5 basis points to 3.97%. For the purposes of Bankrate's survey, a jumbo mortgage is a loan that is at least $650,000.

The typical 5/1 adjustable-rate mortgage rose 4 basis points to 3.28%. With a 5/1 ARM, the rate is fixed for 5 years and adjusted annually thereafter.

Mortgage applications fell 7% last week compared with the previous week, according to data from the Mortgage Bankers Association's weekly survey.

Mortgage Resources

Mortgage Rates Help

Getting a mortgage loan is a big commitment. Learn about all the variables involved in getting a mortgage and the impact these variables have on your interest rate. Before buying your new home, you can find the most common variables that go into calculating estimated monthly payments and interest rates provided here.

  • Purchase/Refinance

    Click "Purchase" if you are buying a home. Click "Refinance" if you own a home and you want to replace your mortgage with another loan at a different rate and terms.

  • Loan type

    Select which type of mortgage you are shopping for: a 30-year fixed-rate loan, a 15-year fixed, an FHA-insured loan, an adjustable-rate mortgage (ARM) with an introductory rate lasting 5 or 7 years, a 20-year fixed, and 10-year fixed or a 30-year Veterans Affairs loan.

  • Amount

    Type the amount you want to borrow. The default is $165,000, but you should enter your own number.

  • Down payment

    Select the percentage that is closest to your down payment. If your down payment is between these numbers, select the lower one. Example: If you are making a 12 percent down payment, select "10% down" and not "15% down."

  • Credit score

    If you know your credit score, select the range that your score belongs to. The best rates and terms go to borrowers with credit scores of 740 and higher, and borrowers in the 720 to 739 range can get very good deals, too.

  • Points

    Select the range of discount points that you are willing to pay. Discount points are an upfront fee that you pay to get a lower interest rate. One point is 1 percent of the loan amount. On a $100,000 mortgage, if you pay 1 point, you pay an upfront fee of $1,000.

  • Place

    Write your city and state. You might see a bigger selection if you choose the nearest large city.

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Terry Ivie

Texas Real Estate Consumer Protection Notice

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