Saturday, March 25, 2023
HomeMarketMortgage interest rates for Jan. 26 are flat

Mortgage interest rates for Jan. 26 are flat

- Advertisement -

Mortgage rates in the U.S. for Thursday, Jan. 26, were flat day over 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 6.48%, unchanged from the prior day and up 5 basis points from seven days prior. (Each 1% of a mortgage rate is made up of 100 basis points.)

The refinance rate for 30-year, fixed-rate loans was 6.56%, down 1 basis point from the prior day and down 2 basis points from the prior week.

15-year fixed-rate loans

A 15-year, fixed-rate mortgage averaged 5.64%, an increase of 2 basis points from the prior day and an increase of 1 basis point 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%,

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%, steady from the previous day and the prior week.

FHA and VA loans

The rate for 30-year, Federal Housing Administration-insured mortgages was 5.68%, down 9 basis points from the previous day and up 2 basis points from the previous week. Mortgages backed by the Department of Veterans Affairs reached a rate of 5.83%, a decrease of 3 basis points from the prior day and down 10 basis points from the same day last week.

State-by-state movement

On a state level, Utah, Alaska and Hawaii posted the largest day-over-day increase in mortgage rates, increasing 4 basis points each.

No states saw declines in mortgage rates on Thursday.


Editor’s Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Bankrate.

The advice, recommendations or rankings expressed in this article are those of MarketWatch Picks, and have not been reviewed or endorsed by our commercial partners.

Credit: marketwatch.com

RELATED ARTICLES
- Advertisment -

Most Popular