Stop the presses! After weeks on the rise, a number of popular loan options retreated this week… Here’s how mortgage and refinancing options looked by week’s end, according to CNET:
The average rate for a 30-year, fixed-rate mortgage is 7.10 percent, which is a decrease of 22 basis points compared to one week ago. Tan average 15-year, fixed mortgage is 6.38 percent, down eight basis points compared to last week.
A 5/1 adjustable-rate mortgage has an average rate of 5.53 percent, up seven basis points from seven days ago.
On the refinance front, the current average interest rate for a 30-year refinance is 7.10 percent, a decrease of 20 basis points from one week ago. The current average rate for a 15-year refi is 6.39 percent, a decrease of 11 basis point from last week.
The current average interest rate for a 10-year refinance is 6.49 percent, a decrease of 17 basis points compared to one week ago.