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Last updated on December 26th, 2022 at 09:34 pm
Important mortgage rates like the 30-year fixed and 15-year fixed mortgage rates grew. Also, the common type of variable-rate mortgage notched higher.
Mortgage Rates Currently
The 30 years fixed mortgage rate is at 3.09% which was at 3.05% last week, now rose to 4 basis points from then.
The 15 years fixed mortgage rate is averaging at 2.36% from 2.35% of last week, which is an increase of 1 basis point from the same time a week before.
The 30-year jumbo mortgage median rate is 3.11% that was 3.07% the last week which rose to 4 basic points from then.
The 5/1 ARM rate is averaging at a 3.16% uptick by 1 basis point to the last week’s rate.
Along with the purchase, a mortgage, refinancing too became more expensive.
The mean rates of 30-year fixed and 15-year fixed refinance mortgages saw a rise. The average rates of a 10-year refinance loan, also inched up.
The Average Refinances Rates
The 30 years fixed refinance rate is at 3.15% rose to 6 basic points from 3.09% same time a week before
The 15 years fixed refinance rate is averaging at 2.43%
And the average 10 year refinance rate is at 2.43%
Since the economy is getting stronger the demand for homes has increased.
Many experts predicted that in 2021 the mortgage rates will dramatically increase, yet in spite of the current rates spike and crossing 3% rates are still near below the levels predicted.
Reference Source: Next Advisor
