Prime Allied Limited - Mortgage Rates Rise, 15-Year Average Hits 4-Week High

CENTRAL, Hong Kong - Aug. 24, 2023 - PRLog -- The current average 30-year fixed-rate mortgage is 7.59%. Because rates vary so significantly amongst lenders, it's always a good idea to shop around for the best mortgage choice and check rates on a frequent basis, no matter what sort of mortgage you're looking for.

National Averages of Lenders' Best Rates

Loan Type    -   New Purchase   -   Refinance

30-Year Fixed   -   7.59%    -   7.89%

FHA 30-Year Fixed    -       7.56%   -   7.75%

Jumbo 30-Year Fixed   -     6.77%  -   6.77%

15-Year Fixed   -    7.10%  -   7.15%

5/6 ARM     -     7.29%   -   7.37%

National averages of the lowest rates given by more than 200 of the country's best lenders, assuming an 80% loan-to-value ratio (LTV), a FICO credit score of 700-760, and no mortgage points.

Mortgage Interest Rates Today
National Mortgage Rate Averages Today

On Thursday, the average 30-year new buy mortgage rate rose for the third consecutive day. The flagship average has risen by 11 basis points to 7.59%, its highest level since July 10. The 30-year average bounced drastically last month, reaching a 20-year high of 7.70% on July 6 before falling to 7.17% a week later.

The 15-year mortgage average increased by 17 basis points to 7.10% on Thursday. This puts it only one basis point below the predicted 15-year top of 7.11% reached in early July.

Prime Allied Limited (https://prime-allied.com) provides asset management and financial consulting. Prime Allied Limited works with you to create a financial strategy that allows you to actively build, conserve, and diversify your assets.