Today’s  Mortgage rates 9 June 2022

Source of the information  Bankrate.com  

Today Rates move slightly up 

Ralph DiBugnara - "Home prices will start to decline slightly, but competition for these homes will be less. This will make bidding wars less likely, giving homebuyers a decent chance to get their offers accepted at a reasonable price."

The average mortgage interest rate for a standard 30-year fixed mortgage is 5.54%, which is about a 0.08% increase from last week’s 5.46%

30-year fixed rate mortgages

The average mortgage interest rate for a standard 15-year fixed mortgage is 4.75%, Which is a 0.06% increase from last week’s 4.69%.

15-year fixed rate mortgages

The average rate on a 5/1 adjustable-rate mortgage (ARM) is 3.91%, which is a 0.01% increase from last week’s 3.90%

5/1 adjustable rate mortgages

Longer repayment terms is the most popular because they make more comfortable a homeowners’ payment for a longer period of time

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