Mortgage Rate Update. As of October 2, 2019, mortgage rates for 30-year fixed mortgages fell over the past week, with the rate borrowers were quoted on Zillow at 3.62%, down five basis points from September 25.
LONDON and SINGAPORE, Oct. 13, 2019 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, today. based on interest rates, equity indexes, foreign exchange, energy.
A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR. The average rate on the 30-year fixed is 11 basis points lower than a week ago.
This fixed rate mortgage is a home loan with an interest rate that remains the same throughout the 30 year term. At the end of the 30 year repayment period, the loan is fully amortized. This means that the total principal (the face value of the loan) has been paid off in full in multiple installments.