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Mortgage interest rates have spiked for the second day in a row. According to Zillow, the 30-year mortgage rate for home purchases is up 18 basis points since yesterday at 6.87%, and the 30-year refinance rate has risen by 20 basis points to 6.91%. Meanwhile, the 15-year fixed purchase rate has soared by 21 basis points to 6.26%, and the 15-year refinance rate has increased by 20 basis points to 6.30%.
Mortgage rates closely follow the 10-year Treasury yield, which has jumped over the last two days. We will see if today's Consumer Price Index (CPI), a key measure of inflation, impacts home loan rates over the next few days.
Read more: How inflation affects mortgage rates
Today's mortgage rates
Here are the current mortgage rates, according to the latest Zillow data:
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30-year fixed: 6.87%
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20-year fixed: 6.83%
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15-year fixed: 6.26%
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5/1 ARM: 7.06%
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7/1 ARM: 7.24%
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30-year VA: 6.47%
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15-year VA: 6.12%
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5/1 VA: 6.13%
Remember, these are the national averages and rounded to the nearest hundredth.
Learn more: How to get the lowest mortgage rate possible
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