As of Monday, October 23, 2023, the current interest rates for mortgages vary depending on the lender and the type of mortgage. Here are some examples of current interest rates from different sources:
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Bankrate reports that the average interest rate for a 30-year fixed mortgage is 7.64%, rising 9 basis points over the last week. The national average 30-year refinance interest rate is 7.83%, up 10 basis points over the last seven days. The national average 15-year refinance interest rate is 6.98%, up 6 basis points compared to this time last week.
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NerdWallet reports that on Sunday, September 24th, 2023, the average APR on a 30-year fixed-rate mortgage fell 1 basis point to 7.391%. The average APR on a 15-year fixed-rate mortgage fell 1 basis point to 6.564% and the average APR for a 5-year adjustable-rate mortgage (ARM) fell 4 basis points to 8.133%, according to rates provided to NerdWallet by Zillow.
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U.S. Bank reports that the current interest rate for a 30-year fixed mortgage is 7.875% with an APR of 8.048% .
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Wells Fargo reports that the interest rate for a 30-year fixed-rate jumbo mortgage is 6.875% with an APR of 6.982%. The interest rate for a 30-year fixed-rate conforming loan is 7.000% with an APR of 7.217% .
Its important to note that mortgage rates can fluctuate daily and vary depending on individual factors such as credit score, down payment, and loan amount. When shopping for a mortgage, its important to compare rates and terms from multiple lenders to find the best deal for your situation.
