HomeMortgageJuly 21, 2022—Mortgage Rates Rose – Forbes Advisor

July 21, 2022—Mortgage Rates Rose – Forbes Advisor

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Today’s average rate on a 30-year fixed mortgage is 5.96%, up 0.11% from the previous week.

Borrowers may be able to save on interest costs by going with a 15-year fixed mortgage, as they typically have a lower rate than that of a 30-year, fixed-rate home loan. The average rate on a 15-year fixed mortgage is 5.05%. However, a 15-year mortgage means you are paying off the house in half the amount of time compared to a 30-year term, so your monthly payments will be higher.

Related: Compare Current Mortgage Rates

30-Year Fixed-Rate Mortgage Rates

The average rate rose on a 30-year fixed mortgage, inching up to 5.96% from 5.93% one day ago. The 52-week high is 6.11%.

The APR on a 30-year fixed is 5.97%. This…

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