Mortgage Rates Edge Lower but Remain High Compared to Recent Years

30-year mortgage rates decreased over the past week but remain elevated compared to recent history, now averaging 8.07% nationally.

15-year fixed rates held steady at 7.49%, while jumbo 30-year rates remained unchanged at 7.27%.

Refinancing rates were mostly flat, with 30-year refi rates averaging 8.43% currently.

Mortgage rates vary by state, with the lowest rates seen in Vermont, Delaware, North Dakota, Wisconsin, and Mississippi.

Rates are influenced by factors like Federal Reserve policy, Treasury bond yields, and competition among lenders.