In the market for a mortgage or refinance option? Here’s how the average rates shook out by week’s end, per CNET:
The average rate for a 30-year, fixed-rate mortgage is 3.17 percent, an of eight basis points compared to one week ago. The average rate for a 15-year, fixed is 2.43 percent—an increase of seven basis week-over-week.
A 5/1 adjustable-rate mortgage has an average rate of 3.19 percent, up nine basis points compared to last week. As shared last week, 5/1 ARM’s continue to come in at a lower interest rate compared to a 30-year fixed mortgage.
The current average interest rate for a 30-year refinance is 3.23 percent, up eight basis points week-over-week. The average 15-year fixed refinance rate is 2.49 percent, an increase of 8 basis points.
The average 10-year fixed refinance rate is 2.50 percent, an increase of 10 basis points from last week.