The historically low mortgage and refi rates continued for the week ending Aug. 6. According to CNET, here’s how the benchmark rates wrapped up:
The average 30-year fixed mortgage interest rate is 2.96 percent, down five basis points from one week ago. A basis point is equivalent to 0.01 percent.
A 15-year fixed mortgage averaged out to 2.25 percent, also a decrease of five basis points. A 5/1 adjustable-rate mortgage has an average rate of 2.97 percent, again, down five basis points from last week.
The average rate for a 30-year fixed refinance loan is 2.94 percent, a decrease of six basis points. The average interest rate for 15-year refinances is 2.24 percent, down five basis points over last week.
The current average interest rate for a 10-year refinance is 2.27 percent, down four basis points from last week.