Last week’s mortgage and refinance rate hikes have continued into the new year. According to CNET, a number of popular options saw small to moderate increases by week’s end. Here’s how rates were looking as of January 6:
The average interest rate for a standard 30-year fixed mortgage is 6.63 percent, which is an increase of two basis points from last week. The average rate for a 15-year, fixed mortgage is 6.09 percent, which is an increase of 12 basis points compared to a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 5.51 percent, up two basis points compared to a week ago.
On the refi front, the average 30-year fixed refinance loan is currently 6.70 percent, an increase of two basis points compared to a week ago. The average 15-year fixed refinance rate is 6.14 percent, a decrease of two basis points.
The current average interest rate for a 10-year refinance is 6.37 percent, up seven basis points from what we saw the previous week.