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Type. Fixed period. Adjustment frequency. What this means. 5/1 ARM. 5 years. Once per year. Rate locked for 5 years, then adjusts every 12 months. 7/6 ARM. 7 years
For instance, if you make a 20 percent down payment on a $375,000 home and take out $300,000 30-year fixed-rate mortgage at 7.5 percent interest, your monthly payment (excluding insurance and ...
These figures are higher than a year ago, when rates averaged 6.63% for a 30-year term and 5.94% for a 15-year term. “The 30-year fixed-rate has hovered between 6% and 7% for most of the last ...
Finally, there's good news for homebuyers and for homeowners who want to refinance their mortgages: The 30-year fixed mortgage rate now averages 6.73%, dropping significantly from its 20-year peak ...
The fixed rate for a 15-year mortgage is 6.27%, up 13 basis points from last week's average 6.14%. These figures are lower than a year ago, when rates averaged 6.60% for a 30-year term and 5.76% ...
The fixed rate for a 15-year mortgage is 6.14%, up 1 basis point from last week's average 6.13%. These figures are lower than a year ago, when rates averaged 6.66% for a 30-year term and 5.87% for ...