The average 30-year fixed-rate mortgage rate fell one basis point, while the 15-year fixed was unchanged. The 5/1 ARM rose two basis points, according to a NerdWallet survey of daily mortgage rates published by national lenders.
The 30-year fixed-rate is three basis points higher than it was a week ago, and 34 basis points higher than one year ago. One basis point is one-hundredth of a percentage point.
Mortgage rates have been quiet all week, and new-home sales seem to be calming, too.
Mortgage applications for new-home purchases were down 7.5% in September compared with a year earlier, according to the Mortgage Bankers Association. It’s because of the hurricanes. Applications fell 37% in Florida and 11% in Texas, according to Lynn Fisher, the MBA’s vice president of research and economics.
MORTGAGE RATES TODAY, FRIDAY, OCT. 13:
NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.
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