Slight Jump in Mortgage Rates


Mortgage rates were up slightly this week, with the benchmark 30-year fixed mortgage rate rising to 3.93 percent, according to’s weekly national survey. The 30-year fixed mortgage has an average of 0.26 discount and origination  points.

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The average 15-year fixed mortgage nosed higher to 3.16 percent while the larger jumbo 30-year fixed mortgage reverted to 4.11 percent, where it sat two weeks ago. Adjustable rate mortgages also higher, with the 5-year ARM climbing to 3.28 percent and the 7-year ARM now 3.48  percent.

Mortgage rates followed bond yields higher this week as economic data here at home outweighed rate cuts and economic stimulus efforts elsewhere around the globe. Mortgage rates are closely related to yields on long-term government bonds. The positive tone of recent economic data and an increasing inclination of the Federal Reserve toward a start in interest rate hikes, perhaps as soon as June, fueled this week’s increase. However for the benefit of perspective, this week’s average 30-year fixed mortgage rate is still lower than anything seen in all of  2014.

One year ago, the average 30-year fixed mortgage rate was 4.45 percent. At that time, a $200,000 loan would have carried a monthly payment of $1,007.44. With the average rate now at 3.93 percent, the monthly payment for the same size loan would be $946.77, a savings of approximately $60 per month for anyone refinancing  now.


30-year fixed: 3.93% — up from 3.90% last week (avg. points: 0.26)

15-year fixed: 3.16% — up from 3.15% last week (avg. points: 0.18)

5/1 ARM: 3.28% — up from 3.22% last week (avg. points: 0.20)

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.

For a full analysis of this week’s move in mortgage rates, go to

The survey is complemented by Bankrate’s weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. More than half of the panelists, 54 percent, expect mortgage rates to continue rising. But nearly one-third, 31 percent, don’t forecast much of a change in mortgage rates at all over the next week. Just 15 percent predict a decline in mortgage rates over the coming  week.

For the full mortgage Rate Trend Index, go to

About Bankrate, Inc.

Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes,, and, our flagship websites, and other owned and operated personal finance websites, including,,,,,,, and Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of over 600 local markets, Bankrate generates rate tables in all 50 U.S. states. Bankrate develops and provides web services to over 100 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, AOL, CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston  Globe.

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