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.
MORTGAGE RATES TODAY, TUESDAY, FEB. 6:
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.
More from NerdWallet