Average rates on 30-year and 15-year fixed-rate mortgages rose one basis point each, and the 5/1 ARM was unchanged, according to a NerdWallet survey of daily mortgage rates published by national lenders on Wednesday.
The 30-year fixed was down one basis point from one week earlier and 33 basis points higher than one year ago.
While mortgage rates have been relatively stable over the last month, there has been some movement in home construction numbers. Housing starts fell 4.7% from August to September, to an annual pace of 1.127 million units, according to the U.S. Census Bureau. But compared with a year earlier, housing starts were up 6.1%. So even though there was a slowdown in September, it was still a healthier month for home construction than the previous September.
MORTGAGE RATES TODAY, WEDNESDAY, OCT. 18:
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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