Andrew Dehan

Today's average 30-year fixed-mortgage rate is 6.58, the average rate for a 15-year fixed mortgage is 5.89 percent, and the average rate on a 5/1 ARM is 6.09 percent.

By Andrew Dehan, Bankrate Published Oct. 25, 2024 at 10:13 PM GMT+2 | Updated Oct. 25, 2024 at 10:23 PM GMT+2

The average rate you'll pay for a 30-year fixed mortgage today is 6.82, the average 15-year fixed-mortgage rate is 6.10 percent, and the average 5/1 ARM rate is 6.20 percent.

Key takeaways Refinancing from a 30-year mortgage to a 15-year mortgage can save you a significant amount of money in interest and pay off your mortgage sooner.

Today's average rate for the benchmark 30-year fixed mortgage is 6.90, the average rate you'll pay for a 15-year fixed mortgage is 6.16 percent, and the average rate on a 5/1 adjustable rate mortgage is 6.38 percent.

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The current average rate for a 30-year fixed mortgage is 6.91, the average rate you'll pay for a 15-year fixed mortgage is 6.17 percent, and the average 5/1 ARM rate is 6.32 percent.

Key takeaways Looking at the past four decades, the average rate on a 30-year fixed mortgage peaked in 1981, rising just above 16 percent.

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The current average rate for a 30-year fixed mortgage is 6.90, the average rate you'll pay for a 15-year fixed mortgage is 6.21 percent, and the average rate on a 5/1 ARM is 6.45 percent.