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Mortgage Interest Rates this Week

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Mortgage interest rates dropped slightly this week according to one survey of national mortgage lenders. Interest rates for a fixed thirty year mortgage dropped slightly to 6.26%. This is down from 6.28% the previous week.

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Interest rates for fixed rate fifteen year mortgages did not change this week. Mortgage interest rates appear to be holding their ground as the market decides what inflation is doing; until this happens mortgage interest rates are expected to stay where there are. One year ago the fixed thirty year mortgage rate was 5.81% and 5.23% for the fifteen year fixed rate mortgage.

Interest rates for Adjustable Rate Mortgages (ARM) crept up slightly this week to 5.16% from 5.14% the week before for a one year loan. Hybrid 5/1 Adjustable Rate Mortgage loans (ARM) are up to 5.76% this week from 5.75% last week.

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