June 7, 2023 Mortgage Rates Update: Mixed and Receding.

Mortgage rates for 15-year terms have remained unchanged at 5.625%, while rates for 30-year terms have edged up to 6.625%. Rates for 20-year terms have edged down to 6.25%, and rates for 10-year terms have jumped up by a half of a percentage point to 6.125%. Mortgage refinance rates have held steady for 30-year terms, staying at 6.625%. Rates for 15-year terms have also remained unchanged at 5.625%, while rates for 20-year terms have edged up to 6.125%. Homebuyers interested in saving the most on interest should consider 15-year terms, as 5.625% is today’s lowest rate.