And the climb continues. Multiple mortgage and refinance benchmarks hit annual highs by week’s end, with the Fed anticipating raising interest rates six more times this year. Here’s how popular options looked by April 22, according to CNET:
The average 30-year, fixed-rate mortgage rate stands at 5.29 percent, which is an increase of 22 basis points from one week ago. The average rate for a 15-year, fixed mortgage is 4.46 percent, an increase of 15 basis points from the same time last week.
A 5/1 adjustable-rate mortgage has an average rate of 5.23 percent, up 22 basis points from last week.
The average rate for a 30-year fixed refinance loan is 5.26 percent, an increase of 19 basis points compared to one week ago. The current average rate for a 15-year refinance is 4.47 percent, up 12 basis points over last week.
The average rate for a 10-year fixed refinance loan is currently 4.55 percent, an increase of 10 basis points over last week.