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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.
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