What is Mortgage Basis Points?

Question: What is Mortgage Basis Points?

Answer: Mortgage basis points (bps) is one one-hundredth of one percent. For example, 5½ basis points equal 0.055 percent or 0.00055.  One hundred basis point is 1.0 percent or 0.01.

All mortgage are quoted as basis points or percentage rates.

Rate This Article

(45 out of 87 people found this article helpful)

Leave A Comment?