A few important mortgage and refi rates dropped off, making way for New Year purchases. Here’s how the mortgage market looks, according to CNET:
For a 30-year, fixed-rate mortgage, the average rate stands at 3.19 percent, a decrease of five basis points from one week ago. The average rate for a 15-year, fixed mortgage is 2.50 percent, down two basis points compared to a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 3.18 percent, a decrease of six basis points compared to a week ago.
For 30-year fixed refinances, the average rate is 3.16 percent, down five basis points from one week ago. The current average interest rate for 15-year refinances is 2.45 percent, a decrease of four basis point compared to one week ago.
The current average interest rate for a 10-year refinance is 2.43% percent, down six basis points from what we saw the previous week.