If you’re looking to buy or refi, financial experts say the mortgage market is still in rare form! Here’s how the average rates shook out by week’s end, per CNET:
The most-common loan, the 30-year fixed mortgage, averaged out to 3.13 percent, which is a decline of four basis points compared to last week. It’s common counterpart, the 15-year fixed, ended the week up slightly at 2.44 percent—an increase of one basis point.
A 5/1 adjustable-rate mortgage had an average rate of 3.14 percent by end of day Friday. That represents a five basis point slide week-to-week.
For those looking to refinance, the news is pretty good, while a bit mixed on the basis scale.
The average rate for a 30-year refinance was 3.21 percent, down two basis points compared to one week ago. The current average interest rate for 15-year refinances is 2.50 percent, an increase of one basis point.
For 10-year fixed refinances, the average rate was 2.51 percent, up one basis point from the previous week.