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Mortgage rates for 30-year and 15-year fixed home loans slipped, while 5/1 ARMs moved a notch higher today, according to a NerdWallet survey of mortgage rates published by national lenders Thursday morning.

Federal Reserve Chair Janet Yellen is a friend to home buyers and mortgage refinancers, at least for now. Yellen is testifying before Congress this week, and yesterday’s comments boosted both the stock and bond markets.

Noting that inflation is still below expectations, Yellen said the Fed “stands ready to adjust our policy” on the pace of future short-term interest-rate hikes. That news was greeted with higher bond prices, triggering lower yields. As a result, some lenders fractionally discounted their mortgage rates.


(Change from 7/12)
30-year fixed: 4.12% APR (-0.02)
15-year fixed: 3.49% APR (-0.02)
5/1 ARM: 3.90% APR (+0.01)

NerdWallet daily mortgage rates are an average of the published annual percentage rate with the lowest points for each loan term offered by a sampling of major national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay.

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: Twitter: @halmbundrick.

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