The average rate on a 30-year fixed-rate mortgage jumped nine basis points, the rate for the 15-year fixed climbed eight basis points and the 5/1 ARM rose three basis points, according to a NerdWallet survey of daily mortgage rates published by national lenders Wednesday.
The average rate on the 30-year fixed is 17 basis points higher than one week ago and is five basis points lower than one year ago. A basis point is one one-hundredth of one percent.
This rate is the highest for the 30-year fixed since April 3, 2017, when it was 4.29%.
MORTGAGE RATES TODAY, WEDNESDAY, JAN. 10:
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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