Mortgage Rates Slightly Higher for the Week, but Lower than a Month Ago

Mortgage rates edged up slight higher this week, according to Bank Rate:

30-Year Fixed Rate:  3.77%, up 3 basis points from last week, but lower than last month’s 3.83%. At the current average rate, you’ll pay $464.25 per month in principal and interest for every $100,000 you borrow. That’s up $1.70 from what it would have been last week.

15-Year Fixed Rate:  2.97%, up 2 basis points from last week. Monthly payments on a 15-year fixed mortgage at that rate will cost around $689 per $100,000 borrowed.

5-Year Adjustable Rate:  3.15%, up 4 basis points over the last week. Monthly payments on a 5/1 ARM at 3.15 percent would cost about $430 for each $100,000 borrowed over the initial five years, but could climb hundreds of dollars higher afterward, depending on the loan’s terms.