Mortgage and Refinance Rates Rise Slightly After Recent Lows

National averages for mortgage and refinance rates have edged up, with 30-year fixed rates climbing after hitting a four-month low earlier this week.

The average 30-year fixed mortgage rate increased to 6.63% on Thursday, up from a recent low of 6.50% earlier in the week.
Refinance rates for 30-year fixed loans held steady at 6.79% after rising 8 basis points on Wednesday, marking their highest level since Tuesday's four-month low of 6.71%.
Rates for other mortgage products, including 15-year fixed and jumbo 30-year loans, also saw slight increases, with the latter now averaging 6.68%.
State-level refinance rates vary, with the lowest averages between 6.51% and 6.75% in states like New York and California, and the highest rates reaching 6.89% in states such as Alaska and South Dakota.
Rate fluctuations are influenced by factors such as bond market trends, Federal Reserve monetary policy, and regional lender competition, making it essential for borrowers to shop around for the best offers.