It’s become a standard headline as of late, but mortgage and refinance rates continued to inch higher this week. According to CNET, a number of popular rate options have once again hit their highest levels sine the pandemic began.
The average interest rate for a 30-year fixed mortgage is 4.19 percent, up 20 basis points compared to one week ago. The average rate for a 15-year, fixed mortgage is 3.48 percent, which is an increase of 15 basis points compared to last week.
A 5/1 adjustable-rate mortgage has an average rate of 4.20 percent, up 20 basis points from one week ago.
Looking at the world of refis, the average 30-year fixed refinance rate is 4.20 percent, an increase of 18 basis points compared to one week ago. A15-year fixed refi stands at 3.45 percent, up 11 basis points compared to last week.
The average rate for a 10-year fixed refinance loan is 3.42 percent, an increase of 17 basis points compared to one week ago.