Rates across the board dipped this week, including a new all-time low for 15 year loans.
The average rate for a 15-year, fixed mortgage is 2.31 percent, which is a decrease of seven basis points from one week ago, according to CNET. The average rate for a standard 30-year fixed mortgage is 3.01 percent, down three basis points.
A 5/1 ARM has an average rate of 3.03 percent, down just one basis point from last week.
Refinance rates also slid this week, with the average rate for a 30-year fixed refinance at 2.99 percent, a decrease of 11 basis points. The current average interest rate for 15-year refinances is 2.30 percent, a decrease of 12 basis points week-over-week.
The current average interest rate for a 10-year refinance is 2.31 percent, a decrease of 13 basis points.