Average mortgage rates are rising, but remain below last year's levels.
Average mortgage rates have risen slightly over the past week, but remain below last year's levels. The market is showing gradual improvement, with an increasing number of applications for both home purchases and refinancing.
Ratio
This week, the average rate for a 30-year fixed-rate mortgage reached 6.38%. This figure is higher than last week, when the rate stood at 6.22%. A year ago, the average rate for a similar mortgage was 6.65%.
The average rate for a 15-year fixed-rate mortgage rose to 5.75%, also above last week's level of 5.54%. During the same period last year, the 15-year mortgage rate was 5.89%.
Throughout the week, average mortgage rates remained at 6.38%. The housing market is showing gradual improvement compared to last year, despite recent rate fluctuations. The number of applications for home purchases and refinancing has increased year-over-year, and current rates remain below last year's levels, when the average was 6.65%.