The rollercoaster that is mortgage and refinance rates continued this week as averages largely tumbled. Here’s how the popular options looked by April 7, according to CNET:
For a 30-year, fixed-rate mortgage, the average rate you’ll pay is 6.76 percent, a decrease of eight basis points as of seven days ago. The average rate for a 15-year, fixed mortgage is 5.98 percent, down 16 basis points from a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 5.73 percent, up one basis point compared to a week ago.
On the refi front, the average rate for a 30-year fixed refinance loan is currently 6.85 percent, a decrease of 13 basis points over this time last week. The current average interest rate for 15-year refinances is 5.96 percent, a decrease of 19 basis points compared to one week ago.
The average 10-year fixed refinance rate right now is 6.08 percent, a decrease of 31 basis points over last week.