The great rate decline continued this week, as a A number of popular loan options fell by double digit basis points for the week ending March 24. Here’s how the numbers shook out, according to CNET:
The average 30-year fixed mortgage interest rate is 6.79 percent, a decline of 21 basis points from one week ago. The average rate for a 15-year, fixed mortgage is 6.08 percent, which is a decrease of 14 basis points compared to a week ago.
A 5/1 adjustable-rate mortgage has an average rate of 5.73 percent, down just four basis points compared to last week.
Turning attention to the refi market, the average 30-year fixed refinance rate right now is 6.90 percent, a decrease of seven basis points from what we saw one week ago. The current average interest rate for 15-year refinances is 6.05 percent, a decrease of 23 basis point compared to one week ago.
The average 10-year fixed refinance rate right now is 6.23 percent, a decrease of nine basis points over last week.