Mortgage Rates Dip Slightly With 30-Year Fixed Averaging 6.99%
• Today's 30-year fixed mortgage rate averages 6.99%, down 0.02 percentage points from last week
• 15-year fixed rates average 6.31%, decreased 0.10 percentage points week-over-week
• 5/1 adjustable rate mortgages currently average 6.40%, down 0.04 percentage points
• 30-year mortgages have lower monthly payments but higher interest overall than 15-year mortgages
• Adjustable rate mortgages offer lower initial rates but can fluctuate after the initial period