Mortgage Rates Continue Rising - 30-Year Fixed Hits 7.95%

Today's 30-year fixed mortgage rate averages 7.95%, up 0.15 percentage points from last week.

The 15-year fixed mortgage rate averages 7.08%, an increase of 0.11 percentage points from last week.

The 5/1 adjustable rate mortgage (ARM) averages 6.79%, up 0.07 percentage points from last week.

ARMs usually have lower rates than fixed mortgages initially, but rates can fluctuate after the initial period.

Experts recommend comparing loan terms to find the best option based on your financial situation and goals.