Mortgage Rates Rise Again - Key Factors To Consider When Choosing a Loan

Today's average 30-year fixed mortgage rate increased to 8.00%

The average 15-year fixed mortgage rate rose to 7.15%

Average 5/1 adjustable rate mortgage increased to 6.88%

Fixed-rate mortgages have set interest rates, adjustable-rate mortgages only initially

Consider loan terms - 15 vs 30 years - and interest rates when choosing a mortgage