Zillow’s U.S. national averages on Sept. 27 put the 30-year fixed mortgage rate at 7.30%, up 24 basis points from the prior week; the 15-year fixed rate was 6.71%, and the 5/1 adjustable-rate mortgage was 6.90%, down 24 basis points.
Other purchase-loan averages were 7.35% for a 20-year fixed mortgage, 6.78% for a 7/1 ARM, 6.86% for a 30-year VA loan, 6.39% for a 15-year VA loan and 6.04% for a 5/1 VA loan. Zillow’s national averages are rounded to the nearest hundredth.
For refinancing, Zillow listed national averages of 7.25% for a 30-year fixed loan, 7.14% for a 20-year fixed, 6.70% for a 15-year fixed, 6.80% for a 5/1 ARM, 6.60% for a 7/1 ARM, 6.77% for a 30-year VA loan, 6.46% for a 15-year VA loan and 5.91% for a 5/1 VA loan. The article says refinance rates are often, but not always, higher than purchase rates.
