Basis point

Basis point

A basis point is 1/100th of 1 percent. The basis point is often used in reference to interest rates. If the Fed decreases the prime rate from 7.50 percent to 7.25 percent, the rate is said to have gone down 25 basis points.

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Loan Type Today
30 Year Fixed   5.90
15 Year Fixed   5.65
5/1 Adjustable   6.01

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