The interest rate on a 30-year fixed-rate mortgage rose from a prior week average of 4.29% to 4.51%, well above the rate of 3.56% in the same week a year ago.
One year ago the 15-year fixed-rate mortgage rate stood at 2.74%. That rate also rose again this week, from 3.39% last week to 3.53%.
The interest rate on a five-year Treasury adjustable-rate mortgage loan rose from 3.10% a week ago to 3.26%, and is up from 2.74% in the same week a year ago. The one-year Treasury-indexed adjustable-rate mortgage loan interest rate remained unchanged week-over-week at 2.66%, and is slightly lower than last year’s rate of 2.69% in the same week.
According to yesterday’s data from the Mortgage Bankers Association, new loan applications slipped 4% last week, as refinancings remained below 70% of all applications. Rising mortgage loan rates are cooling enthusiasm for refinancing, but rates for buyers remain low.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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