For the week ending June 11, a handful of principal mortgage rates dwindled across the board. Here are the most recent averages, as reported by CNET.
The average fixed-rate for a 30-year mortgage was 3.09 percent, down one basis point from one week ago. Likewise, the average rate for a 15-year fixed mortgage was 2.36 percent, also down one point.
A 5/1 adjustable-rate mortgage has an average of 3.10 percent, a decline of two basis points from last week. Per CNET, for the first five years, you’ll typically get a lower interest rate with a 5/1 adjustable-rate mortgage compared to a 30-year fixed mortgage.
On the refinance front, the current average interest rate for a 30-year refinance was 3.15 percent, down one basis point from last week. The average rate for a 15-year fixed refinance loan was also down one point at 2.41 percent.
The 10-year refinance rate had the largest decline of three basis points to a rate of 2.40 percent.