The average rate on a 30-year fixed-rate mortgage went up by one basis point, the rate for the 15-year fixed rose one basis point and the 5/1 ARM dropped two basis points, according to a NerdWallet survey of daily mortgage rates published by national lenders Monday.
The average rate on the 30-year fixed is two basis points higher than last Tuesday and is 20 basis points lower than one year ago. A basis point is one one-hundredth of one percent.
MORTGAGE RATES TODAY, MONDAY, JAN. 8:
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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