The headline may sound familiar, but we’re continuing to track ever-rising mortgage and refinance rates, with the average 30-year fixed rate approached 7 percent this week. Here’s how the popular options looked by week’s end, according to CNET:
The average interest rate for a standard 30-year fixed mortgage is 6.97 percent, up 14 basis points from one week ago. The average 15-year, fixed mortgage rate stands at 6.12 percent, which is an increase of 12 basis points from last week.
A 5/1 adjustable-rate mortgage has an average rate of 5.33 percent, an increase of 11 basis points from seven days ago.
Turning our attention to refinancing, the average 30-year fixed refi rate is 6.95 percent, an increase of 12 basis points over this time last week. A 15-year fixed refinance is currently 6.12 percent, up eight basis points compared to one week ago.
The only decrease came via the average 10-year fixed refi, down three basis points to 6.14 percent.