Mortgage Rates Continue Climbing Upward Across All Loan Types

Today's 30-year fixed mortgage rate increased to 8.01%, up from 7.89% last week.

The 15-year fixed mortgage rate rose to 7.17%, up from 7.05% last week.

The 5/1 adjustable rate mortgage increased to 6.94%, up from 6.86% last week.

30-year mortgages have lower monthly payments but higher interest rates than 15-year mortgages.

Adjustable rate mortgages have interest rates set for a period before rates adjust annually based on the market.