Mortgage rates haven’t changed much since last week. According to Freddie Mac, the 30-year fixed mortgage rate is down one basis point to 6.08%, and the 15-year mortgage rate has increased by one basis point to 5.16%.
The longer-term numbers tell a different story, though. Rates have fallen significantly over the last year — the current 30-year mortgage rate is 81 basis points under the 52-week average. And even though the 15-year rate increased this week, it’s still 1% below its 52-week average. It could be a good time to buy a house or refinance your mortgage.
Dig deeper: Should you buy a house? How to know you’re ready.
Current mortgage rates
Here are the current mortgage rates, according to the latest Zillow data:
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30-year fixed: 5.79%
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20-year fixed: 5.55%
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15-year fixed: 4.97%
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5/1 ARM: 5.93%
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7/1 ARM: 6.12%
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30-year VA: 5.16%
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15-year VA: 4.82%
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5/1 VA: 5.49%
Remember, these are the national averages and rounded to the nearest hundredth.
Learn more: 5 strategies to get the lowest mortgage rates
Current mortgage refinance rates
These are today’s mortgage refinance rates, according to the latest Zillow data:
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30-year fixed: 5.89%
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20-year fixed: 5.67%
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15-year fixed: 5.07%
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5/1 ARM: 6.00%
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7/1 ARM: 6.15%
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30-year VA: 5.15%
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15-year VA: 4.83%
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5/1 VA: 5.28%
Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that’s not always the case.
Learn more: Want to refinance your mortgage? Here are 7…
