Core Insights - Mortgage interest rates have seen a slight increase, with the average 30-year fixed mortgage rate rising to 6.22% and the 15-year rate increasing to 5.41% [1][4]. Current Mortgage Rates - The current national average mortgage rates are as follows: - 30-year fixed: 6.22% - 20-year fixed: 5.61% - 15-year fixed: 5.41% - 5/1 ARM: 6.47% - 7/1 ARM: 6.45% - 30-year VA: 5.63% - 15-year VA: 5.15% - 5/1 VA: 5.45% [4]. Mortgage Refinance Rates - Today's national average mortgage refinance rates are typically higher than purchase rates, although this is not always the case [2]. Market Trends - Mortgage rates are expected to remain within a tight range in the coming months, with a 94% chance of a federal funds rate decrease at the Federal Reserve's upcoming meeting, though this may not significantly impact mortgage rates [15]. - Despite a recent decline in mortgage rates since the beginning of the month, they are still slightly higher compared to one year ago [16].