US mortgage rates for Friday, December 30, were up from the previous day and up from the same time last week, according to Bankrate data.
30-year fixed rate loans
The average daily rate for a 30-year fixed-rate loan was 6.87%, 5 basis points higher than 6.82% the day before and 16 basis points higher than seven days earlier. (Each 1% of a mortgage rate is made up of 100 basis points.)
The refinancing rate for 30-year fixed-rate loans was 6.82%, stable from the previous day and 6 basis points higher than the same day last week.
15-year fixed rate loans
15-year fixed-rate mortgages averaged 5.95%, up 3 basis points from the previous day and up 14 basis points from the prior week.
For jumbo loans, which cover properties that are too expensive for a conventional conforming loan (around $647,000 in most areas), the rate was 6.93%, up 6 basis points from the previous day and an increase of 13 basis points compared to the previous week.
As for 5/1 adjustable-rate mortgages, which have a fixed rate for five years that can then go up or down each year, the average was 5.49%, 1 basis point higher than the previous day and 8 basis points higher. more than last week. .
FHA and VA Loans
The rate for 30-year Federal Housing Administration-insured mortgages was 6.33%, 2 basis points higher than the previous day and 31 basis points lower than the same day last week. Department of Veterans Affairs-backed mortgages hit a rate of 6.06%, up 7 basis points from the prior day and up 8 basis points from the prior week.