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The cost difference between a 15- and 30-year mortgage can be significant. Below is an example of the options on a $300,000 loan.
The average rate for shorter 15-year terms is 6.19% for purchase and 6.20% for refinance, down 11 basis points from 6.30% for purchase and 10 basis points from 6.30% for refinance this time last week.
Freddie Mac reports an average 6.78% for a 30-year fixed-rate mortgage, down 1 basis point from last week's average 6.79%, according to its weekly Prime Mortgage Market Survey of nationwide ...
When it comes time to start shopping for a mortgage, it's often a 30-year loan that comes to mind. After all, nearly 90% of homebuyers choose a 30-year fixed-rate loan, according to Freddie Mac ...
Average mortgage rates for 30-year terms trend moderately higher week over week as of Wednesday, November 27, 2024, while 15-year terms are relatively steady ahead of the Thanksgiving holiday.
Freddie Mac reports an average 6.44% for a 30-year fixed-rate mortgage, up 12 basis points from last week's average 6.32%, according to its weekly Prime Mortgage Market Survey of nationwide ...
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