Mortgage rates diverged today, but one key rate sunk lower. The average for a 30-year fixed-rate mortgage receded, but the average rate on a 15-year fixed climbed. On the variable-mortgage side, the average rate on 5/1 adjustable-rate mortgages advanced.
Rates for mortgages change daily, but overall, they are very low by historical standards. If you’re in the market for a mortgage, it may be a great time to lock in a rate. Just make sure you’ve looked around for the best rate first.
30-year fixed mortgages
The average rate for a 30-year fixed mortgage is 3.55 percent, a decrease of 1 basis point over the last week. A month ago, the average rate on a 30-year
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