Mortgage Rates Tuesday: Not Much Change as Home Prices Rise


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The average rate on a 30-year fixed-rate mortgage was unchanged, the 15-year fixed rate went up two basis points and the 5/1 ARM rose one basis point, according to a NerdWallet survey of daily mortgage rates published by national lenders Tuesday.

The 30-year, fixed-rate mortgage is six basis points higher than one week ago, and 24 basis points lower than one year ago. A basis point is one one-hundredth of one percent.

Mortgage rates have gone down compared to a year ago, but home prices have gone the other direction. Nationally, home prices surged 7% in the 12 months ending in October, according to CoreLogic’s latest Home Price Insights report. It was the fourth month in a row in which year-over-year home price appreciation exceeded 6%, CoreLogic said. “This escalation in home prices reflects both the acute lack of supply and the strengthening economy,” said Frank Nothaft, CoreLogic chief economist, in a news release.

The real-estate data company forecasts that home appreciation will slow to 4.2% in the 12 months ending in October 2018.

MORTGAGE RATES TODAY, TUESDAY, DEC. 5:

(Change from 12/4)
30-year fixed: 4.10% APR (NC)
15-year fixed: 3.68% APR (+0.02)
5/1 ARM: 4.19% APR (+0.01)


NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

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Mila has been writing both opinion based articles as well as hard news for over either years both for Tutor Times as well as other reputable news organizations. Mila specializes in political news and world news.