May 10, 2024Rates on 30-year new purchase mortgages dipped Thursday. Lowering to a 7.08% average, 30-year rates are near their lowest level since early April. Averages for most other mortgage types also showed modest movement.

See how we rate mortgages to write unbiased product reviews.Average 30-year mortgage rates dropped this week and have been hovering in the upper 6% range, according to Zillow data. But depending on how some incoming inflation data shakes out,

Assumable mortgages — or low-rate mortgages that home buyers can take over from home sellers — are making a comeback. The process can be challenging.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also declined this week.

Rates on 30-year loans inched up slightly, but remain near their cheapest level of the past month. Averages for almost every loan type moved modestly higher as well.

The average rate for a 30-year fixed-rate mortgage declined this week for the first time since March to 7.09% as home affordability continues to stifle the housing market.

These are today's mortgage and refinance rates. Mortgage rates dropped below 7% this week and are holding steady. Rates may go down later this year.

After four days of drops, 30-year mortgage rates have steadied at their cheapest level in four weeks. But the 30-year refinance average saw a significant decline.

Today, the mortgage interest rate on a 30-year fixed mortgage is 7.54%, according to Curinos. On a 15-year fixed mortgage, the average rate is 6.71%, and the average rate on a 30-year jumbo mortgage is 7.