We continue to see fluctuations in the rates department, with this week’s averages ending higher on nearly all fronts. According to CNET, here’s how purchase and refinance rates ended the week:
The average rate for a 30-year, fixed-rate mortgage, is 3.06 percent, which is an increase of three basis points compared to one week ago. A 15-year fixed mortgage will run 2.36 percent, on average, which is an increase of four basis points compared to a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 3.08 percent, a climb of four basis points from last week.
The current average interest rate for a 30-year refinance is 3.05 percent, up three basis points compared to last week. The average 15-year fixed refinance rate is now 2.36 percent, an increase of five basis points over last week.
The average 10-year fixed refinance rate right is 2.38 percent, an increase of three basis points.