Purchase and refinancing rates continued to decline this week, albeit at a slower pace. Here’s how the popular options looked by week’s end, according to CNET:
The average interest rate for a 30-year fixed mortgage is 6.87 percent, which is a decline of four basis points compared to one week ago. The average rate for a 15-year, fixed mortgage is 6.23 percent, down three basis points from the same time last week.
A 5/1 adjustable-rate mortgage has an average rate of 5.49 percent, a decrease of 13 basis points from last week.
The current average interest rate for a 30-year refinance is 6.86 percent, down three basis points compared to one week ago. The current average interest rate for 15-year refi is 6.22 percent, a decrease of two basis point over last week.
The average 10-year fixed refinance loan is the only rate to have increased this week, currently up eight basis points to 6.36 percent.