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Mortgage Rates Tuesday: Modest Declines

Mortgage Rates, Mortgages
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The average rate on a 30-year fixed-rate mortgage fell six basis points, the rate for the 15-year fixed declined six basis points, and the 5/1 ARM went down three basis points, according to a NerdWallet survey of daily mortgage rates published Tuesday by national lenders.

The average rate on the 30-year fixed is six basis points higher than one week ago and three basis points higher than one year ago. A basis point is one one-hundredth of one percent.


(Change from 02/05)
30-year fixed: 4.45% APR (-0.06)
15-year fixed: 4.04% APR (-0.06)
5/1 ARM: 4.40% APR (-0.03)

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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