Mortgage interest rates took a dive to a 16-month low during a quiet week that included the Columbus Day holiday on Monday.
- The benchmark 30-year fixed-rate mortgage fell to 4.01 percent from 4.18 percent last week, according to the Bankrate.com national survey of large lenders. The last time it was lower was May 29, 2013, at 3.99 percent. One year ago, that rate was 4.42 percent. Four weeks ago, it was 4.33 percent. The mortgages in this week's survey had an average total of 0.23 discount and origination points
- The benchmark 15-year fixed-rate mortgage dropped to 3.23 percent from 3.37 percent last week
- The benchmark 5/1 adjustable-rate mortgage fell to 3.09 percent from 3.27 percent.
- The benchmark 30-year fixed-rate jumbo loan dropped to 4.09 percent from 4.21 percent
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