Mortgage Rates See Slight Dip, But Remain Near 23-Year High

Rates on 30-year mortgages dropped to 8.28% on Tuesday, the lowest level in over a week.

After hitting a 23-year high last week, rates have fallen for most loan types including 30-year, 15-year, jumbo 30-year, and 5/6 ARM loans.

Rates can vary widely by lender, so compare options before choosing a mortgage.

The Fed's interest rate hikes have pushed mortgage rates up significantly over the past year.

Mississippi, Rhode Island, Vermont, Louisiana, and Tennessee currently have the lowest 30-year mortgage rates by state.