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Mortgage Rates Wednesday: Rates Stick, Delinquencies Slip

Finding the Right Mortgage, Mortgage Rates, Mortgages
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Average rates on the 30-year fixed-rate mortgage and 5/1 ARM were unchanged, while the 15-year fixed fell one basis point, according to a NerdWallet survey of daily mortgage rates published by national lenders.

The 30-year fixed rate is four basis points higher than it was a week ago, and 42 basis points higher than a year ago.

Even as mortgage rates have risen in the last year, more homeowners are paying on time. In July, 4.6% of mortgages were at least 30 days past due, according to CoreLogic’s monthly Loan Performance Insights Report. A year before, 5.5% of mortgages were at least 30 days past due.

The national foreclosure rate of 0.7% was at a 10-year low, CoreLogic said. If there was a note of concern in the report, it was that serious delinquencies (90 or more days past due) were up in four areas, mostly in places dependent on the oil industry: Anchorage, Alaska; Casper, Wyoming; Victoria, Texas; and Baton Rouge and Lafayette both in southern Louisiana.


(Change from 10/10)
30-year fixed: 4.07% APR (NC)
15-year fixed: 3.50% APR (-0.01)
5/1 ARM: 3.93% 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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