Mortgage Rates for Wednesday, April 26, 2023 in a Minute
Good morning, for today, Wednesday, April 26, 2023, the national average mortgage rate for a 30-year fixed loan is 6.82%. If you already own a home and looking to refinance, the current 15-year fixed refinance rate is 6.25% and the 30-year fixed refinance rate is 6.99%.
Meanwhile, the national average adjustable mortgage loan rates for:
5.1 ARM is 5.80% APR 7.49%
7/1 ARM is 6.37% APR 7.33%
10/1 ARM is 6.61% APR 7.23%
Don't forget to shop around for your mortgage loan before committing to one. In addition, the rates you see, may not be the rate you get. Please also remember, there are several factors that goes into determining your rate. These factors include but not limited to:
Credit score
Loan type
Term
Property location
Down payment
Loan amount and rate type
Please remember, interest rate represent the cost of borrowing the principle. It does not include any fees or additional cost. While the Annual Percentage Rate (APR) represent not only the cost of borrowing the principle, but it also includes other fees as well. For this reason, the interest rate is usually presented at a lower rate, while the APR, is typically higher.
We hope you enjoyed your visit with us today. As always, thank you so much for stopping by. Until next time…Diana.
Image by Diana for First Home Houston
