The current average mortgage rate on a 30-year fixed-rate mortgage, the most popular home loan, is 6.86%, a 22 basis point jump from the previous week. Borrowers looking for a shorter payoff horizon with 15-year fixed mortgages face an average rate of 6.17%, an increase of 18 basis points from a week ago. For buyers looking for guaranteed government loans for their dream homes, 30-year fixed FHA mortgages average 6.89%, compared to 6.61% the week prior.

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