Current Mortgage Rates for 2022

Current Mortgage Rates for Nov. 9, 2022

November 9, 2022 By : Quick Insurance Guru Floral Separator

Numerous principal mortgage rates were up today.

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Average 15-year fixed mortgage rates declined, while average 30-year fixed mortgage rates increased.

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There was a rise in the average interest rate on 5/1 mortgages.

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Mortgage rates have been increasing steadily since the start of 2022, following a series of interest rate hikes by the Federal Reserve.

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If you're looking to buy a home, trying to time the market may not play to your favor.

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The 30-year fixed-mortgage rate average is 7.23%, up 1 basis point from a week ago.

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The average mortgage rate for a 15-year, fixed mortgage is 6.44%, down 2 basis points from the same time last week.

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A 5/1 adjustable-rate mortgage is up 5 basis points, its average rate of 5.60%, from 7 days ago.

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Mortgage rates were historically low at the start of 2022, but have steadily increased since.

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