Mortgage and Refinance Rates Edge Higher After Recent Lows

Following a brief dip to multi-month lows, U.S. mortgage and refinance rates are gradually climbing, reflecting mixed market trends.

The average 30-year fixed mortgage rate rose to 6.66%, ending a seven-week decline and up slightly from last week’s 6.63%.
Refinance rates also increased, with the 30-year fixed refinance rate reaching 6.81%, just above its recent four-month low of 6.71%.
Rates for other loan types showed mixed movement; the 15-year refinance rate rose to 5.71%, while jumbo 30-year refinance rates decreased slightly to 6.77%.
The Federal Reserve’s monetary policy and bond market trends continue to influence mortgage rate fluctuations, though affordability remains challenging for many buyers.
Borrowers are advised to shop around for the best rates, as lender offerings vary significantly based on loan type and individual qualifications.