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Today’s Mortgage Interest Rates: October 19, 2022 – Mortgage Rates Rose
(CTN News) – Currently, the average rate on a 30-year fixed mortgage is 7.20%, down from 7.12% a week ago.
The Mortgage Interest Rates on a 15-year fixed mortgage is 6.40%, up 0.07% from last week.
Compare your existing mortgage rate to today’s refinance rates if you want to lock in a lower rate.
October 19, 2022 mortgage rates
Today’s average 30-year fixed-rate Mortgage Interest Rates is 7.20%, down from 7.12% last week. In the last 52 weeks, the lowest rate was 5.43% and the highest was 7.24%.
A 30-year, fixed-rate mortgage has an annual percentage rate (APR) of 7.21%. Last week’s APR was 7.13%. Your APR is your loan’s total cost.
According to the Forbes Advisor mortgage calculator, a 30-year fixed Mortgage Interest Rates of $100,000 costs approximately $679 a month in principal and interest (taxes and fees not included). Over the life of the loan, borrowers will pay $144,364 in interest.
Rates on 15-year mortgages
Today’s 15-year fixed mortgage rate is 6.40%, up from yesterday’s. It was 6.33% last week. There’s a difference between today’s rate and the 52-week low of 4.76%.
An APR of 6.44% is on a 15-year fixed. Last week, it was 6.37%.
If you borrow $100,000 at 6.40% interest, you’d pay $866 a month in principal and interest. You’d pay $55,811 in interest over the life of the loan.
Rates on Jumbo Mortgages
A 30-year, fixed-rate jumbo Mortgage Interest Rates is currently 7.21 percent, up 0.06% from last week. There was a 52-week low of 5.41% and a 52-week high of 7.27% for 30-year jumbos.
At today’s fixed interest rate of 7.21%, a 30-year jumbo mortgage will cost you $679 per month. A $750,000 jumbo mortgage would cost $5,096 a month in principal and interest.
Interest rates on 5/1 ARMs
There’s an Mortgage Interest Rates interest rate of 5.45% on 5/1 ARMs right now. 52-week low was 4.20%, 52-week high was 5.45%.
Your monthly payments (including principal and interest) will be $565 if you lock in today’s 5/1 ARM interest rate of 5.45%.
Here’s how to calculate mortgage payments
A mortgage calculator can help you figure out how much your mortgage will cost.
Enter the following info:
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Price of a house
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Amount of down payment
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Rates.
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Term of loan
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HOA fees, taxes, and insurance
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