The current average rate for a 30-year fixed mortgage is 6.80, the average rate for the benchmark 15-year fixed mortgage is 6.13 percent, and the average 5/1 ARM rate is 6.36 percent.
Jeff Ostrowski is a Reporter at Bankrate. He specializes in areas such as real estate, finance, and personal finance, with a focus on topics including mortgage rates, market trends, and the impact of the Federal Reserve on inflation. Jeff's work has been featured in various publications, including Florida Realtors, Fortune, and The Philadelphia Inquirer.