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April
23
23
Current Rates
The average 30-year fixed-rate mortgage interest rate is currently 6.90%. This rate has decreased 1 basis point over the past week. For those looking to refinance, the national 30-year fixed refinance interest rate is also 6.90%, down 3 basis points from last week.
Mortgage Rates:
- 10-year fixed: Bankrate reports rates as low as 6.00%.
Other Loan Options:
-
Jumbo Mortgages:30-year fixed jumbo rates are 6.97%, and 15-year fixed jumbo rates are 6.24%, Bankrate reports.
-
ARM (Adjustable Rate Mortgages):10/6-month ARMs have rates around 7.500%, while 5y/6m ARMs are at 6.875% Bank of America reports.
Savings Account Rates:
- High-Yield Savings Accounts: NerdWallet reports rates as high as 4.66% APY for Axos Bank, NerdWallet says.
Factors Influencing Rates:
- Federal Reserve Policy: The Federal Reserve's actions on interest rates can significantly impact mortgage rates.
- Economic Conditions: General economic health and inflation expectations can influence mortgage rates.
- Supply and Demand: Changes in the housing market and demand for loans can also affect rates.
Note: Mortgage rates can fluctuate daily, so it's recommended to check with various lenders for the most up-to-date information.