The appears to be no slowing down when it comes to mortgage and refinance rates as of late. According to CNET, many of the popular loan options were up by double digit basis points this week, ending March 3. Here’s how the rates shook out:
The average interest rate for a standard 30-year fixed mortgage is 7.12 percent, up 18 basis points from one week ago. The average rate for a 15-year, fixed mortgage is 6.33 percent, which is an increase of 11 basis points compared to a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 5.83 percent, up 13 basis points from last week.
The average 30-year fixed refinance rate is 7.19 percent, an increase of 16 basis points from what we saw one week ago. For 15-year fixed refis, the average rate is currently at 6.40 percent, up 10 basis points over last week.
The average rate for a 10-year fixed refinance loan is currently 6.52 percent, an increase of 9 basis points compared to one week ago.