With a number of fixed mortgage rates have hitting unforeseen heights in the past few weeks, many are questioning just how high will they go? Here’s how the popular purchase and refinance options looked by week’s end, according to CNET:
For a 30-year, fixed-rate mortgage, the average rate is 6.83 percent, up 28 basis points compared to one week ago. The average rate for a 15-year, fixed mortgage is 6 percent, which is an increase of 27 basis points compared to last week.
A 5/1 adjustable-rate mortgage has an average rate of 5.22 percent, up 35 basis points from seven days ago.
On the refi front, the average interest rate for a 30-year refinance is 6.83 percent, an increase of 28 basis points over this time last week. The average 15-year fixed refinance rate right now is 6.04 percent, up 29 basis points compared to one week ago.
For 10-year fixed refinances, the average rate is currently at 6.17 percent, an increase of 25 basis points over last week.