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Many fixed-rate mortgages now offer lower interest rates than ARMs, with the average 30-year fixed mortgage rate at around 7%, compared to around 6.30% for a 5/1 ARM.
A fixed-rate mortgage (FRM) is a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float". As a result, payment amounts and the duration of the loan are fixed and the person who is responsible for paying back the loan benefits from a ...
Average mortgage rates continue trending downward as of Thursday, August 8, 2024, with drops of some 30 basis points across 30-year and 15-year fixed-rate terms week over week, landing home ...
Average mortgage rates are rising across the board as of Tuesday, October 8, 2024, with sharp moves higher on 30-year and 15-year terms less than three weeks after the Federal Reserve lowered its ...
Average mortgage rates for popular 30-year fixed terms are relatively flat while shorter 15-year fixed terms tick up as of Wednesday, January 8, 2025, elevated to their highest levels in six months.
See today's average mortgage rates for a 30-year fixed mortgage, 15-year fixed, jumbo loans, refinance rates and more — including up-to-date rate news.
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