Undoubtedly the rough week for the stock market had a impact on retreating mortgage and refinance rates this week, as nearly all of the popular options slid. Here’s how the averages looked by week’s end, according to CNET:
The 30-year, fixed-rate mortgage average is 5.42 percent, which is a decrease of 15 basis points compared to one week ago. The average rate for a 15-year, fixed mortgage is 4.75 percent, down six basis points from the same time last week.
A 5/1 adjustable-rate mortgage stands at an average of 5.37 percent, down 18 basis points last week.
On the refi front, the current average rate for a 30-year refinance is 5.33 percent, a decrease of 20 basis points over last week. The average 15-year fixed refi is currently 4.68 percent, a decrease of 15 basis point.
For 10-year fixed refinances, the average rate is 4.65 percent, a decrease of 14 basis points.