U.S. mortgage rates for Wednesday, Jan. 25, were up from the previous day and increased from the same time last week, according to data from Bankrate.
30-year fixed-rate loans
The average daily rate for 30-year, fixed-rate mortgages was 6.48%, up 2 basis points from 6.46% the previous day and up 9 basis points from the same day last week. (Each 1% of a mortgage rate is made up of 100 basis points.)
The refinance rate for 30-year, fixed-rate loans was 6.57%, down 1 basis point from the previous day and rising 5 basis points from the same day last week.
15-year fixed-rate loans
Mortgages with a 15-year fixed rate averaged 5.62%, a 52-week low, a decrease of 4 basis points from the prior day and declining 2 basis points from the previous week.
Jumbo mortgages
For jumbo loans, which cover properties that are too pricey for a conventional conforming loan (about $647,000 in most areas), the rate was 6.52%, up 1 basis point from the prior day and an increase of 13 basis points from the last week.
ARMs
As for 5/1 adjustable-rate mortgages, which carry a fixed rate for five years that can then rise or fall each year after, the average was 5.37%, declining 3 basis points from the prior day and a decrease of 4 basis points from the previous week.
FHA and VA loans
The rate for 30-year, Federal Housing Administration-insured mortgages was 5.69%, down 4 basis points from the prior day and up 10 basis points from seven days prior. Mortgages backed by the Department of Veterans Affairs reached a rate of 5.86%, down 5 basis points from the previous day and a decrease of 3 basis points from the same day last week.
State-by-state movement
On a state level, Washington saw mortgage rates rise the most day over day, increasing 7 basis points to 6.46%, followed by Hawaii with a 6-basis-point increase to 6.50% and Connecticut at 6.36%, up 6 basis points.
No states posted declines in mortgage rates on Wednesday.
Editor’s Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Bankrate.
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