American Mortgage Rates
Mortgage rates have changed recently in the US, according to a Bankrate analysis. The rates on Monday, February 13th, decreased from the day before but increased from the same point the week before.
Mortgages with 30-Year Fixed Rates
Mortgages with fixed rates for 30 years had an average interest rate of 6.72%. This is down one basis point from the previous day’s 6.73%, but up seven basis points from the same day the week before.
Mortgage Rates
The rate for 30-year, fixed-rate loans for people looking to refinance was 6.86%, up 3 basis points from the day before and 11 basis points from the week before.
Mortgages with 15-year fixed rates
The average rate for 15-year fixed-rate mortgages was 6.04%, up 3 basis points from the day before and 25 basis points from the week before.
Large Loan APR
Properties that exceed the maximum amount for a conventional conforming loan, typically $647,000, may be subject to a 6.76% interest rate for jumbo loans. This represents a 2 basis point decline from the day before but a 4 basis point rise from the same day the week before.
Adjustable-Rate Mortgages (5/1 %)
The typical interest rate on 5/1 adjustable-rate mortgages was 5.42%, down 1 basis point from the day before but up 3 from the week before. These loans give a fixed rate for the first five years, after which it may change annually.
Mortgages from the Department of Veterans Affairs and the Federal Housing Administration
The rate for 30-year mortgages insured by the Federal Housing Administration was 5.84%, down one basis point from the day before but up 14 from seven days earlier. The rate for mortgages guaranteed by the Department of Veterans Affairs reached 6.08%, up 2 basis points from the day before and 15 basis points from the week before.
State-Level Alterations
Mortgage rates increased the most among the states, rising in Hawaii by 6 basis points to 6.65%, Delaware by 4 basis points to 6.57%, and Tennessee by 4 basis points to 6.76%. On Monday, mortgage rates increased in no states.