In a somewhat unusual turn, some mortgage rates increased this week as refinance rates fell ever-so-slightly. Here’s how a number of popular options looked by week’s end, according to CNET:
The average 30-year fixed mortgage interest rate is 6.90 percent, which is an increase of two basis points from this time last week. The average rate for a 15-year, fixed mortgage is 6.22 percent, which is a decrease of three basis points compared to a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 5.80 percent, the same rate compared to last week.
Turning to refis, a 30-year refinance is 7.03 percent, a decrease of one basis point from what we saw one week ago. The 15-year fixed refinance average is currently at 6.28 percent, a decrease of three basis points from what we saw the previous week. The average rate for a 10-year fixed refinance loan is currently 6.38 percent, unmoved from what we saw the previous week.