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Mortgage Rates Wednesday, March 29: Bouncing Higher

Mortgage rates for30- and 15-year fixed loans, as well as 5/1 ARMs, all bounced a bit higher today, according to a NerdWalletsurvey of current mortgage rates published by national lenders Wednesday morning.

Meanwhile, home loan applications barely budged last week, falling just 0.8% from the week before, according to the Mortgage Bankers Association. However, as the home buying season begins, the real estate market seems to be off to a good start.

“As an early gauge of spring buying activity, purchase applications for the last four weeks were all higher than the corresponding week a year ago, up an average of 4.8% on a year-over-year basis,” Lynn Fisher, vice president of research and economics with the MBA, told CNBC.

MORTGAGE RATES TODAY, WEDNESDAY, MARCH 29:

(Change from 3/28)
30-year fixed: 4.33% APR (+0.06)
15-year fixed: 3.70% APR (+0.03)
5/1 ARM: 3.86% APR (+0.03)

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» MORE: How much home can you afford?

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

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

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Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter:@halmbundrick.

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The article Mortgage Rates Wednesday, March 29: Bouncing Higher originally appeared on NerdWallet.

 
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