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Tuesday, February 7, 2023
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The latest mortgage rates are now 6.87%

U.S. mortgage rates for Friday, Nov. 25, were up from the previous day and fell from the same time last week, according to data from Bankrate.

30-year fixed-rate loans

The average daily rate for a fixed-rate loan for 30 years was 6.87%, up 2 basis points from 6.85% the previous day and down 4 basis points from the same day last week. (Each 1% of a mortgage rate is made up of 100 basis points.)

The refinance rate for 30-year, fixed-rate loans was 6.87%, up 1 basis point from the prior day and down 6 basis points from the last week.

15-year fixed-rate loans

A 15-year, fixed-rate mortgage averaged 6.14%, a decrease of 3 basis points from the previous day and a decrease of 8 basis points from the last week.

Jumbo mortgages

For jumbo loans, which cover properties that are too pricey for a conventional conforming loan (about $647,000 in most areas), the rate was 6.88%, rising 1 basis point from the prior day and declining 4 basis points from the prior week.

ARMs

As for 5/1 adjustable-rate mortgages, which carry a fixed rate for five years that can then rise or fall each year after, the average was 5.47%, unchanged from the previous day and an increase of 1 basis point from the previous week.

FHA and VA loans

The rate for 30-year, Federal Housing Administration-insured mortgages was 6.09%, down 10 basis points from the previous day and down 8 basis points from seven days prior. Mortgages backed by the Department of Veterans Affairs reached a rate of 6.09%, a decrease of 8 basis points from the previous day and declining 16 basis points from the last week.


Editor’s Note: This story was auto-generated by Automated Insights, an automation technology provider, using data from Bankrate.

The advice, recommendations or rankings expressed in this article are those of MarketWatch Picks, and have not been reviewed or endorsed by our commercial partners.

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