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Last updated on July 25th, 2022 at 09:29 am
Today many notable mortgage rates declined. Both 30-year fixed and 15-year fixed mortgages averages also slid down.
There was a downward movement in the average rate of 5/1 adjustable-rate mortgages (ARM).
Mortgage rates currently are
The average 30 year fixed rate is currently at 3.07% it has come down 6 basis points from last week from 3.13%
The average 15 years fixed-rate mortgage is sitting at 2.38%, which was at 2.43% same time last week.
The 5/1 Arm rate is at its lowest interest rate for the first time in five years in comparison to a 30 year fixed mortgage.
Today it is 46 basis points down from last week from 3.33 to 2.87%
The 30-year jumbo mortgage rate is 5 basis points down from 3.13% to 3.08%
Even the 30-year mortgage refinance rate is at 3.14% today from 3.20% that is 6 basis points down.
Though the mortgage rates are at their lowest the tight supply of homes for sale has made it a difficult market for real estate.
Reference Source: Time
