Mortgage Rates Up For 5 Consecutive Weeks- Bankrate

RP - Fixed mortgage rates have increased again. Fixed mortgage rates increased with the average 30-fixed rate mortgage. Bankrate.com reported on its weekly national survey of large lenders that the fixed mortgage rates reached 6.64%.

On the other hand, the average 15-year fixed rate mortgage hit 6.27%. The average jumbo 30-year fixed mortgage rate hit 6.83%. Previously, it was only 6.78%. The adjustable rate mortgages haves also shown signs of increase.

Mortgage rates continue to be affected by inflation and the interest rate expectations. Fixed mortgage rates stay as an attractive refinancing option for adjustable rate borrowers who are facing sharp payment.

By M. Sese

Real Estate Press