A number of the major mortgage and refinance rates inched up by week’s end. According to CNET, here’s how the averages looked as of the start of October.
The average interest rate for a 30-year fixed mortgage is 3.18 percent, an increase of 15 basis points from last week. The average rate for a 15-year, fixed mortgage is 2.46 percent, up 17 basis points compared to a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 3.20 percent, an increase of 16 basis points from last week.
Looking at the refi world, the average 30-year fixed refinance rate is 3.15 percent, an increase of 14 basis points over this time last week. The average 15-year fixed refinance rate is 2.44 percent, up 16 basis points from seven days ago.
The average 10-year fixed refinance rate stands at 2.38 percent, an increase of 13 basis points from last week.