30-Year Fixed Mortgage Rate Rises to 6.65% as 15-Year Loan Hits 6.00%
Updated
Updated · Yahoo Finance · Aug 12
30-Year Fixed Mortgage Rate Rises to 6.65% as 15-Year Loan Hits 6.00%
3 articles · Updated · Yahoo Finance · Aug 12
Summary
The average 30-year fixed mortgage rate climbed to 6.65% on Aug. 12, up 6 basis points from Tuesday, according to Zillow lender marketplace data.
Fixed borrowing costs broadly moved higher, with the 15-year fixed rate rising 3 basis points to 6.00%, while the 5/1 adjustable-rate mortgage edged down 1 basis point to 6.51%.
Refinance rates remained above purchase-loan levels in key categories, including 6.73% for a 30-year fixed refinance and 6.10% for a 15-year fixed refinance.
The latest averages point to continued pressure on homebuyers' monthly payments, even as adjustable-rate options still offer only a slight rate advantage over 30-year fixed loans.