As the economy continues to normalize and the Fed is able to lower the federal funds rate, mortgage rates should drop further.
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Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase (+0.26%)The current average 30-year fixed mortgage rate is 6.17%, up 26 basis points from where it was this time last week, according to Zillow data.
15-Year Fixed Mortgage Rates Go Up (+0.26%)The average 15-year mortgage rate is 5.45%, 26 basis points higher than last week.
Mortgage Refinance Rates30-Year Fixed Refinance Rates Jump Up (+1.07%)The average 30-year refinance rate is 7.04%, 107 basis points up from last week.
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