Current National Mortgage Rates - Mortgage Rates Rise Again sep 2022

In today's blog we will discuss, Current National Mortgage Rates - Mortgage Rates Rise Again.

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Current National Mortgage Rates - Mortgage Rates Rise Again sep 2022

Current National Mortgage Rates - Mortgage Rates Rise Again

Today’s average rate on a 30-year, fixed-rate mortgage is 6.13%, which is 0.05% higher than last week. In a 52-week span, the lowest rate was 5.26% while the highest was 6.18%.

The interest plus lender fees, called the annual percentage rate, on a 30-year fixed mortgage is 6.14%. The APR was 6.09% last week.

To get an idea about how much you might pay in interest, consider that the current 30-year, fixed-rate mortgage of 6.13% on a $100,000 loan will cost $608 per month in principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator shows. The total amount you’ll pay in interest during the loan’s lifespan is $118,856.

The average interest rate on the 15-year fixed mortgage is 5.44%. This same time last week, the 15-year fixed-rate mortgage was at 5.27%. Today’s rate is higher than the 52-week low of 4.62%.

The APR on a 15-year fixed is 5.47%. It was 5.30% this time last week.

At today’s interest rate of 5.44%, a 15-year fixed-rate mortgage would cost approximately $814 per month in principal and interest per $100,000. You would pay around $46,503 in total interest over the life of the loan.

On a 30-year jumbo, the average interest rate sits at 6.13%, higher than it was at this time last week. The average rate was 6.10% at this time last week. The 30-year fixed rate on a jumbo mortgage is currently higher than the 52-week low of 5.19%.

Borrowers with a 30-year fixed-rate jumbo mortgage with today’s interest rate of 6.13% will pay $608 per month in principal and interest per $100,000. That means that on a $750,000 loan, the monthly principal and interest payment would be around $4,564, and you’d pay roughly $891,422 in total interest over the life of the loan.

The average interest rate on a 5/1 ARM is 4.60%, higher than the 52-week low of 4.11%. Last week, the average rate was 4.53%.

Borrowers with a 5/1 ARM of $100,000 with today’s interest rate of 4.60% will pay $513 per month in principal and interest. Rates for home loans have been on fire this year, rising from 3.22% in early January to 6.13% this week for the most popular 30-year, fixed-rate mortgage. 

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