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Today, mortgage rates are down on almost all loan terms. According to Zillow, the average 30-year fixed interest rate has decreased by eight basis points to 6.78%, and the 15-year fixed rate has dropped by 10 basis points to 6.09%.
Home loan rates are likely down because the 10-year Treasury yield fell yesterday. Mortgage rate trends typically mirror the 10-year Treasury rate. If you're ready to buy a home, it could be a good day to start shopping for real estate agents and mortgage lenders.
Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form.
Today's mortgage rates
Here are the current mortgage rates, according to the latest Zillow data:
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30-year fixed: 6.78%
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20-year fixed: 6.64%
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15-year fixed: 6.09%
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5/1 ARM: 6.97%
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7/1 ARM: 7.19%
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30-year VA: 6.34%
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15-year VA: 5.89%
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5/1 VA: 6.35%
Remember, these are the national averages and rounded to the nearest hundredth.
Learn more: Here's how mortgage rates are determined
Today's mortgage refinance rates
These are today's mortgage refinance rates, according to the latest Zillow data:
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30-year fixed: 6.81%