Mortgage Rates Friday: Down at End of Month

Finding the Right Mortgage, Mortgage Rates, Mortgages
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Average mortgage rates on the 30-year fixed and 15-year fixed fell three basis points, and the 5/1 ARM declined one basis point, according to a NerdWallet survey of daily mortgage rates published by national lenders Friday morning.

The 30-year fixed is one basis point higher than a week ago, and 41 basis points higher than it was one year ago. In September, the 30-year fixed averaged 3.96%.

Getting a mortgage to buy a first home? That requires saving up for a down payment. And millennial home buyers — who mostly are buying their first homes — say they’re willing to cut expenses or delay milestones to gather down payment money, according to NerdWallet’s new “Down Payment Reality Report.”

According to the survey, conducted by Harris Poll, 59% of millennials who are planning to buy a home in the next five years would forgo a vacation to save money. Almost a third (28%) of millennials would delay having children, and about a quarter (24%) would put off a honeymoon. Millennials were more likely than older generations to say they would make sacrifices to buy a home. On the other hand, more people in those other generations are already homeowners.

For more down payment myths and wisdom — and a calculator that shows you how much closer you can get to your savings goal by giving up certain items (such as canceling Netflix) — check out our “Down Payment Reality Report.”

MORTGAGE RATES TODAY, FRIDAY, SEPT. 29:

(Change from 9/28)
30-year fixed: 4.01% APR (-0.03)
15-year fixed: 3.45% APR (-0.03)
5/1 ARM: 3.90% APR (-0.01)


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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