Average rates on 30-year and 15-year fixed-rate mortgages were unchanged, while the 5/1 ARM nudged upward by one basis point, according to a NerdWallet survey of daily mortgage rates published by national lenders.
The average 30-year fixed rate is four basis points higher than one week ago, and 43 basis points higher than one year ago.
There was an even bigger change over the last year in home prices. According to CoreLogic, they rose 6.9% in the 12-month period ending in August. Of major metro areas, Las Vegas had the fastest price growth, at 8.4%, followed by Denver, at 8.3%, and San Francisco, at 7.7%.
However, the data analytics company forecasts a slowdown over the coming year, with home prices rising 4.7% nationally over the 12-month period ending in August 2018.
MORTGAGE RATES TODAY, WEDNESDAY, OCT. 4:
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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The article Mortgage Rates Wednesday: Steady as Home Prices Rise originally appeared on NerdWallet.
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