- March 24, 2016
- Mortgage Rates
- Comments : 0
Mortgage Rates Rise and Bank Shares Soar as the Yield Curve Comes to Life
Mortgage rates rose on Monday: The average 30-year mortgage rate is 3.77%, which equates to a $464.25 monthly payment per $100,000 borrowed, or $17.44 higher than the equivalent payment would have been a month ago.
If you were to opt for a shorter term, the average 15-year mortgage rate is 2.98%, which equates to a $689.62 monthly payment per $100,000 borrowed, or $12.90 higher than the equivalent payment would have been a month ago.
| Rate (National Average) | Today | 1 Month Ago |
|---|---|---|
| 30-year fixed jumbo | 4.34% | 4.17% |
| 30-year fixed | 3.77% | 3.46% |
| 15-year fixed | 2.98% | 2.71% |
| 30-year fixed refi | 3.85% | 3.49% |
| 15-year fixed refi | 3.03% | 2.74% |
| 5/1 ARM | 3.12% | 2.97% |
| 5/1 ARM refi | 3.39% | 3.12% |
5/1 ARM = ADJUSTABLE-RATE MORTGAGE WITH AN INITIAL FIXED FIVE-YEAR INTEREST RATE. DATA SOURCE: BLOOMBERG.
Interest and mortgage rates rise in the wake of Trump’s victory, and bank shares are soaring
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