The average rate for a conforming 30-year fixed mortgage ticked up from 4.33 to 4.37 percent over the past week and is within 21 basis points of the 33-month high rate of 4.58 percent recorded this past August. The average rate for a 30-year fixed mortgage was 3.51 percent at this time last year while the all-time low of 3.31 percent was recorded in November of 2012.
In terms of the rate for Jumbo loans, Wells Fargo is currently advertising a rate of 4.125 percent for mortgages over $625,500, a discount of 0.375 percentage points as compared to the 4.5 percent rate they’re advertising for both regular conforming and super conforming loans over $417,000 in high cost areas like San Francisco.