Mortgage Rates Wednesday: Rates Stick, Delinquencies Slip

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Average rates on the 30-year fixed-rate mortgage and 5/1 ARM were unchanged, while the 15-year fixed fell one basis point, according to a NerdWallet survey of daily mortgage rates published by national lenders.

The 30-year fixed rate is four basis points higher than it was a week ago, and 42 basis points higher than a year ago.

Even as mortgage rates have risen in the last year, more homeowners are paying on time. In July, 4.6% of mortgages were at least 30 days past due, according to CoreLogic’s monthly Loan Performance Insights Report. A year before, 5.5% of mortgages were at least 30 days past due.

The national foreclosure rate of 0.7% was at a 10-year low, CoreLogic said. If there was a note of concern in the report, it was that serious delinquencies (90 or more days past due) were up in four areas, mostly in places dependent on the oil industry: Anchorage, Alaska; Casper, Wyoming; Victoria, Texas; and Baton Rouge and Lafayette both in southern Louisiana.


(Change from 10/10)
30-year fixed: 4.07% APR (NC)
15-year fixed: 3.50% APR (-0.01)
5/1 ARM: 3.93% APR (NC)

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.