Although most adjustable mortgage rates are up today, fixed interest rates are inching down. According to Zillow, the average 30-year fixed mortgage rate has decreased by three basis points to 6.21%, and the 15-year fixed rate has fallen by 10 basis points to 5.53%. Overall, fixed rates are better deals than adjustable ones right now. ARM interest rates are starting higher than fixed rates, so you’d be stuck with a higher monthly payment during the intro period. Still, every mortgage lender is different, so ask to see all of a mortgage lender’s options before committing to a loan type.

 

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