The current average mortgage rate on a 30-year fixed mortgage is 6.71%, with a 15-year mortgage rate at 5.77% and a 30-year jumbo mortgage rate at 7.12%.
The average interest rate on a 30-year fixed mortgage increased by 0.04 percentage points compared to the previous week.
The APR on a 30-year fixed mortgage is 6.75%. On a $100,000 loan, the monthly cost is $646 in principal and interest, with a total interest payment of $132,611 over the loan's lifespan.
The interest rate on a 15-year fixed mortgage rose to 5.77%. On a $100,000 loan, the monthly cost is $831 in principal and interest, with a total interest payment of $49,667 over the life of the loan.