Demand may be down to its lowest levels in two decades—and double-digit basis point increases is only adding fuel to the fire. This week saw purchase and refinance averages climb across the board. Here’s how the rates stack up, according to CNET:
The average 30-year, fixed-rate mortgage is 5.58 percent, which is an increase of 19 basis points from one week ago. The average rate for a 15-year, fixed mortgage is 4.73 percent, up nine basis points.
A 5/1 adjustable-rate mortgage has an average rate of 3.94 percent, an increase of five basis points compared to a week ago.
On the refi front, the average 30-year fixed rate is currently 5.58 percent, an increase of 20 basis points from last week. The current 15-year refi average is 4.74 percent, up 12 basis points over last week.
The current 10-year refinance rate is 4.66 percent, an increase of 14 basis points compared to one week ago.