The slight hike of last week has rescinded a bit, with popular mortgage options dropping a few basis points this week, while refis took a bigger tumble. Here’s how the week looked by week’s end, according to CNET:
A 30-year, fixed-rate mortgage is 6.60 percent, which is a decline of three basis points from one week ago. The average rate for a 15-year, fixed mortgage is 5.99 percent, down just two basis points from seven days ago.
A 5/1 adjustable-rate mortgage has an average rate of 5.46 percent, a decline of two basis points from the same time last week.
On the refinance front, a 30-year fixed refi stands at 6.45 percent, a decrease of 19 basis points compared to one week ago. For 15-year fixed refinances, the average rate is 5.84 percent, down 24 basis point compared to one week ago.
The average rate for a 10-year fixed refinance loan is currently 5.93 percent, a decrease of 18 basis points over last week.