Bankrate: Mortgage Rates Are on the Rise

Nov 12, 2015, 07:30 ET from Bankrate, Inc.

NEW YORK, Nov. 12, 2015 /PRNewswire/ -- Mortgage rates climbed higher this week, with the benchmark 30-year fixed mortgage climbing to 4.11 percent, according to's weekly national survey. The 30-year fixed mortgage has an average of 0.25 discount and origination points.

The larger jumbo 30-year fixed lept higher again this week to 3.99 percent. The average 15-year fixed mortgage inched up to 3.35 percent. Adjustable mortgage rates were on the rise also, with the 5-year ARM growing to 3.39 percent and the 7-year ARM moving up to 3.62 percent, the highest level since late July.   

Mortgage rates jumped sharply after a stronger than expected employment report all but cemented the idea of a December interest rate hike by the Federal Reserve. Mortgage rates had increased earlier in the year in expectation of a forthcoming rate hike, but as the Fed repeatedly pushed back their timetable, the advance in mortgage rates slowly unwound. Now that all signs - including Fed statements and comments - point to a likely interest hike at their next regularly scheduled meeting, financial markets are quickly recalibrating. Yields on long-term government bonds, to which mortgage rates are closely related, have risen steadily in response.

At the current average 30-year fixed mortgage rate of 4.11 percent, the monthly payment on a $200,000 loan is $967.56.  


30-year fixed: 4.11% -- up from 3.98% last week (avg. points: 0.25)

15-year fixed: 3.35% -- up from 3.23% last week (avg. points: 0.14)

5/1 ARM: 3.39% -- up from 3.28% last week (avg. points: 0.23)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in 10 top markets.

For a full analysis of this week's move in mortgage rates, go to

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. This week the panelists are mixed with 45% predicting mortgage rates to increase further and 45% expecting mortgage rates will remain more or less unchanged over the next week.  Only 10% expect mortgage rates to decline over the next seven days.

About Bankrate, Inc.

Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes,, and, our flagship websites, and other owned and operated personal finance websites, including,,,,,,, and Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of over 600 local markets, Bankrate generates rate tables in all 50 U.S. states. Bankrate develops and provides web services to over 100 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.

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SOURCE Bankrate, Inc.