Mortgage Rates Continue Rising - 30-Year Fixed Reaches 8%, ARM Rates Start Lower But Vary
-
Today's 30-year fixed mortgage rate increased to 8.01%
-
15-year fixed rate also increased to 7.17%
-
5/1 adjustable rate mortgage (ARM) increased to 6.93%
-
ARM rates start lower but can vary after initial period
-
Choosing loan term depends on preferences for stability vs lower initial rate
![](https://www.nj.com/resizer/kVZRPDUB9fJ15fD_Uym83l3tH8o=/1280x0/smart/cloudfront-us-east-1.images.arcpublishing.com/advancelocal/YDKVKZNEENBAVJKXPJUXQYYYGM.jpg)