Mortgage rates in the U.S. for Wednesday, Feb. 8, rose from the previous day and climbed 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 6.62%, up 2 basis points from 6.60% the previous day and up 25 basis points from a week ago. (Each 1% of a mortgage rate is made up of 100 basis points.)
The refinance rate for 30-year, fixed-rate loans was 6.69%, down 3 basis points from the prior day and rising 25 basis points from the prior week.
15-year fixed-rate loans
Mortgages with a 15-year fixed rate averaged 5.86%, up 3 basis points from the prior day and an increase of 19 basis points from the last week.
For jumbo loans, which cover properties that are more expensive than those under a conventional conforming loan (about $647,000 in most areas), the rate was 6.66%, up 1 basis point from the previous day and rising 29 basis points from the prior week.
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 5.39%, unchanged from the previous day and rising 2 basis points from the same day last week.
FHA and VA loans
The rate for 30-year, Federal Housing Administration-insured mortgages was 5.56%, unchanged from the previous day and up 29 basis points from the same day last week. Mortgages backed by the Department of Veterans Affairs hit a rate of 5.96%, flat from the prior day and an increase of 25 basis points from the prior week.
On a state level, Missouri saw mortgage rates rise the most day over day, increasing 6 basis points to 6.64%, followed by Utah with a 5-basis-point increase to 6.77% and Nevada at 6.75%, up 4 basis points.
No states saw 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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