As homebuyers grapple with record prices this spring, mortgage rates have also crept up. On a 30-year fixed loan, the average rate was 7.39% as of May 1, according to Bankrate’s survey of large lenders, marking three straight months of 7% rates. Blame inflation. It’s still stubbornly elevated, rising to 3.5% in March, and that’s
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. The rate on a 30-year fixed refinance declined today. The average rate on a 30-year fixed mortgage refinance is 7.79%, according to Curinos, while the average rate on a 15-year mortgage refinance is 6.96%.
The average interest rate for a standard 30-year fixed mortgage is 7.37% today, an increase of 0.08% from seven days ago. The average rate for a 15-year fixed mortgage is 6.73%, which is an increase of 0.06% . For a look at mortgage rate movement, see the chart below. Today’s average mortgage rates Mortgage Refinance
AIB’s share of new mortgage lending crept higher in the first few months of this year, leaving the top two banks in the country with a combined mortgage market share of more than 75 per cent. The bank said in a trading statement on Thursday, ahead of its annual general meeting in Dublin, that its
Mortgage application volume decreased 2.3% during the week ended April 26, as the average rate for a 30-year, fixed-rate mortgage increased to 7.29%, up from 7.24% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 3% compared with the previous week and were down 1% compared with
As mortgage rates remain above 7%, some would-be homebuyers are looking for another option to help them buy: an adjustable-rate mortgage. Instead of a fixed-rate mortgage where you’re locked into a rate for the duration of your mortgage, an adjustable rate is one that can change as overall rates move, which means your monthly payment
May mortgage rate forecast Mortgage rates will probably remain above 7% in May as inflation resists the Federal Reserve’s efforts to bring it under control. It left rates unchanged at the conclusion of its April 30-May 1 meeting, and seemed as frustrated by inflation and high interest rates as home buyers are. The Fed is
The wind continues to blow in the wrong direction for mortgage borrowers. — Greg McBride, Bankrate Chief Financial Analyst As homebuyers grapple with record prices this spring, mortgage rates have also crept up. On a 30-year fixed loan, the average rate was 7.39 percent as of May 1, according to Bankrate’s survey of large lenders,
American households who have been hoping interest rates would soon decline may have to wait a bit longer. The Federal Reserve is expected to keep its benchmark interest rate unchanged on Wednesday. But yet another report of persistent inflation may ultimately cause the policy-making body to keep rates elevated for longer than it had previously
The average rate for a 30-year fixed-mortgage is 7.36% today, up 0.07% over the last week. The average rate for a 15-year fixed mortgage is 6.79%, which is an increase of 0.07% since last week. For a look at mortgage rate movement, see the chart below. Today’s average mortgage rates Mortgage Refinance Today’s average