Thirty-year fixed mortgage rates dipped three basis points today, while 15-year fixed loans and 5/1 ARMs remained unchanged, according to a NerdWallet survey of current mortgage rates published by national lenders Thursday morning.
MORTGAGE RATES TODAY, THURSDAY, FEB. 16
TransUnion: Mortgage delinquencies finished 2016 on downward trend
Homeowners are doing a better job of paying their mortgages on time, as mortgage delinquencies continued to fall in 2016, according to TransUnion’s Q4 2016 Industry Insights Report released Thursday. A delinquent mortgage is when a homeowner is 60 days or more past due on a monthly payment.
Although the delinquency rate dropped by 7.3% over the last year, to 2.28% at the end of 2016, the rate has been showing signs of a plateau starting in the second (2.29%) and third (2.30%) quarters of 2016. The mortgage delinquency rate has declined every quarter since the third quarter of 2013, according to TransUnion.
“The mortgage delinquency rate has declined for several quarters, and we are observing a stabilization of delinquency rates,” Joe Mellman, vice president and mortgage business leader for TransUnion, said in a news release. “The data suggest, given the current state of credit accessibility, we are reaching a natural floor for delinquencies after years of year-over-year declines.”
Homeowners looking to lower their mortgage rate can shop for refinance lenders here.
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.