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Mortgage Rates Tuesday, July 11: Holding Firm

Finding the Right Mortgage, Mortgage Rates, Mortgages
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Mortgage rates for 30-year and 15-year fixed home loans, as well as 5/1 ARMs, are all steady today, according to a NerdWallet survey of mortgage rates published by national lenders Tuesday morning.

Interest rates have been on a bit of a break since the Fourth of July. Congress is just returning from its Independence Day holiday recess, and there has been little economic news of a magnitude significant enough to shake mortgage rates.

However, it has been a slow climb for home loan rates over the past year. The three most popular loan terms — 15-year and 30-year fixed rates, as well as 5/1 ARMs — are all up more than half of a percentage point (0.50) from one year ago today. And that’s with a three-quarter-percentage-point hike (0.75) in short-term interest rates by the Federal Reserve over the same period.


(Change from 7/10)
30-year fixed: 4.17% APR (NC)
15-year fixed: 3.54% APR (NC)
5/1 ARM: 3.91% APR (NC)

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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Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @halmbundrick.