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Mortgage Rates Today, Tuesday, Oct. 4: Moving Up, Mortgages Paid on Time

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Thirty-year and5/1 ARM loans rose, while 15-year fixed loans remained the same,according to a NerdWallet survey of mortgage rates published by national lenders Tuesday.

Mortgage Rates Today,
Tuesday, Oct.4

(Change from 10/3)
30-year fixed: 3.61% APR (+0.01)
15-year fixed: 3.02% APR (NC)
5/1 ARM: 3.54% APR (+0.03)

More borrowers paying mortgages on time

Homeowners, pat yourselves on the back, because you’re doing a great job. New data show that94.7% of mortgages were current and performing at the end of second quarter 2016, compared with 93.8% a year earlier, according to the Office of the Comptroller of the Currency’s quarterly report on mortgages.

The OCC Mortgage Metrics Reportalso showed that foreclosures were down, which mirrors recent CoreLogic data. The OCC’s surveyshowed that reporting mortgage servicersinitiated 48,732 foreclosures during Q2 this year, down31.1%from2015.

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Data come from seven nationalbanks with considerablemortgage-servicing portfolios:Bank of America, Citibank, HSBC, JPMorgan Chase, PNC,U.S. Bank and Wells Fargo.

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Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

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

More from NerdWallet
How to refinance your mortgage
Compare mortgage refinance rates
Find a mortgage broker

Deborah Kearnsis a staff writer at NerdWallet, a personal finance website. Email: dkearns@nerdwallet.com. Twitter: @debbie_kearns.

The article Mortgage Rates Today, Tuesday, Oct. 4: Moving Up, Mortgages Paid on Time originally appeared on NerdWallet.