Mortgage rates edge back up to 6%, but 5% loans are still in play: Mortgage and refinance interest rates today

Mortgage Rates Overview - Mortgage rates have increased, with the 30-year fixed rate rising to 6.00% and the 15-year rate decreasing slightly to 5.44% [1][3] - The 10-year Treasury yield, which influences mortgage rates, has also risen sharply, opening at 4.13% [2] Market Activity - The current mortgage rate of 6% is nearly a full percentage point lower than the same time in 2024, leading to increased activity from buyers and sellers [3] - Refinance activity has seen an uptick, and purchase applications are ahead of last year's pace [3] Rate Variability - There are lenders offering home loan rates below the national average of 6%, indicating variability in mortgage rates across different lenders [3][4] - Refinance rates can be higher than purchase mortgage rates, but this is not always the case [8] Current Rates - Current mortgage refinance rates include: 30-year fixed at 5.85%, 20-year fixed at 5.81%, and 15-year fixed at 5.40% [6] - Other adjustable-rate mortgages (ARMs) are also available, with rates such as 5/1 ARM at 5.72% and 7/1 ARM at 5.53% [6] Economic Impact - Rising oil prices due to geopolitical tensions have contributed to inflation concerns, which may further influence mortgage rates [2] - The economy's performance, including employment rates, plays a significant role in determining mortgage rates, with rates typically decreasing in a struggling economy to encourage borrowing [15]