Mortgage and refinance rates continued to climb this week with many popular options jumping double digits in basis points. Here’s how the rates looked by week’s end, according to CNET:
The average interest rate for a standard 30-year fixed mortgage is 6.94 percent, up 15 basis points compared to one week ago. The average rate for a 15-year, fixed mortgage is 6.22 percent, which is an increase of six basis points compared to a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 5.70 percent, a rise of 14 basis points from the same time last week.
Looking to refis, the average rate for a 30-year fixed refinance loan is 7.03 percent, an increase of 14 basis points from what we saw one week ago. The average 15-year fixed refinance rate is 6.30 percent, an increase of eight basis points from last week.
For 10-year fixed refis, the average rate is currently at 6.43 percent, an increase of 20 basis points over last week.