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Last updated on July 18th, 2022 at 10:16 am
A few important mortgage rates have dropped today. The 30-year fixed and 15-year fixed mortgage rates trended downward. The 5/1 adjustable-rate mortgage (ARM) rose up.
The average 30 years fixed mortgage rate decreased by 5 basis points from the previous week and is sitting at 3.13% today.
The average 15 years fixed mortgage rate decreased by 5 basis points from the previous week from 2.48% and is sitting at 2.43%
The average 30-year jumbo mortgage rate is 3.14% down by 6 basis points from 3.20% of last week.
The average 5/1 adjustable mortgage rate climbed 13 basis points since last week from 3.20 to 3.33%
The refinance average for 30-year fixed-rate refinance is at 3.20% down from last week by 5 basis points from 3.25%.
The refinance averages for 15-year is sitting at 2.50%
The refinance average for a 10-year loan is currently at 2.51%
Shop around to get the best and lowest mortgage rate.
Take care of your credit score and your debt-to-income ratio factor because they are the deciding factors to qualify you by the lender.
Reference Source: Time
