Looking for the most up-to-date mortgage rates to empower your purchasing or refinancing decisions? We’ve got you covered
, so you can have the most current data when purchasing or refinancing your home.The average mortgage interest rate for a standard 30-year fixed mortgage is 6.91%, a decrease of 0.03 percentage points from last week’s 6.94%.
Thirty-year fixed mortgages are the most commonly sought out loan term. A 30-year fixed rate mortgage has a lower monthly payment than a 15-year one, but usually has a higher interest rate.The average mortgage interest rate for a standard 15-year fixed mortgage is 6.17%, a decrease of 0.02 percentage points from last week’s 6.19%.
Fifteen-year fixed rate mortgages come with a higher monthly payment compared to its 30-year counterpart. However, usually interest rates are lower and you will pay less total interest because you are paying off your loan at a faster rate.The average rate on a 5/1 adjustable rate mortgage is 5.77%, a decrease of 0.08 percentage points from last week’s 5.85%. With an ARM, you will most often get a lower interest rate than a fixed mortgage for say, the first five years.
But you could end up paying more or less after that time depending on your loan terms and how that rate follows the market.When picking a mortgage, it is important to pick out a loan term or payment schedule. Usually you will be offered a 15 or 30-year loan term, but it is not uncommon to see 10, 20, or 40-year mortgages,Mortgages can be fixed-rate or adjustable-rate. Interest rates in fixed-rate mortgages are set in stone for the duration of the loan.
Adjustable-rate mortgages only have interest rates set for a certain period of time before the rate adjusts annually based on the market.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
March 2023 new moon kicks off Ramadan with Orion high in the skyDon't miss this month's new moon! ⬇️
Read more »
March Madness 2023: Games, scores, schedule and TV channels for NCAA men's tournament Day 4The Sweet 16 will be rounded out Sunday as the NCAA men's tournament finishes its round of 32.
Read more »
Pittsburgh vs Xavier Predictions, Odds & Picks - March Madness 2023Despite the Panthers and Musketeers trending to the over during the regular season, recent play from both programs suggests we could be in for a low-scoring contest on Sunday. Read more on Pittsburgh vs. Xavier from erscimia.
Read more »
March Madness 2023: Games, scores, schedule, times, TV channels for NCAA women's tournament Day 3The round of 32 starts Sunday with three No. 1 seeds (along with three No. 2 seeds and two No. 3 seeds). The NCAA women's tournament had a Sunday filled with upsets, excitingfinishes and dominant performances. The ESPN family of networks will televise the entire tournament, culminating with the national championship game on April 2 on ABC. For a deeper dive into Sunday's slate, check out the what to watch guide.
Read more »
Pokémon TCG Value Watch: Rebel Clash In March 2023Is the Boss's Orders Full Art featuring Giovanni from PokemonTCG: Sword & Shield - RebelClash on its way up or is this mere market oscillation? Pokemon
Read more »