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Mortgage rates rose on Thursday. The average 30-year mortgage rate is 3.62%, which equates to a $455.77 monthly payment per $100,000 borrowed. A month ago, the equivalent payment would have been lower by $10.62.

If you were to opt for a shorter term, the average 15-year mortgage rate is 2.82%, which equates to a $681.96 monthly payment per $100,000 borrowed. A month ago, the equivalent payment would have been lower by $6.66.

Rate (National Average)

Today

1 Month

30-year fixed jumbo

 

4.26%

4.16%

30-year fixed

 

3.62%

3.43%

15-year fixed

 

2.82%

2.68%

30-year fixed refi

 

3.65%

3.48%

15-year fixed refi

 

2.86%

2.70%

5/1 ARM

 

3.05%

2.94%

5/1 ARM refi

 

3.33%

3.09%

Data source: Bloomberg.

Mortgage delinquency rates at new lows; bank shares at new highs

On Tuesday, I reported that third-quarter mortgage delinquency rates had fallen to their lowest level of the post-crisis era (since the third quarter of 2009, to be strictly accurate). That observation was courtesy of consumer credit scoring agency TransUnion, and it appears to be confirmed by data published today by the Mortgage Bankers Association (MBA). In fact, according to the MBA, the mortgage delinquency rate (all loan types, one- to four-unit residential properties) in the third quarter, at 4.52%, was the lowest since 2006. TransUnion only began recording its data series with the third quarter of 2009.

Meanwhile, bank shares had a fantastic day on Thursday, with the S&P 500 Financials Sector Index gaining 3.7% to reach its highest level since the first half of 2008. The S&P 500's fourth-biggest gainer, with a 7.6% increase, was Wells Fargo & Co., which has been rocked by a phony-account scandal. The market may be betting that a Trump administration will repeal the Dodd-Frank Act, which imposed onerous regulations on banks in the wake of the financial crisis.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.