A survey of national lenders Tuesday finds mortgage rates higher. It is the second day in a row that all three of the most popular home loan terms have moved upward.
Concerns regarding a “Brexit” — a British exit from the European Union — are driving bond prices, and with them, mortgage rates. The vote will be held Thursday, so volatility in interest rates is expected to continue.
Homeowners looking to lower their mortgage rate can find refinance rates here.
NerdWallet compiles annual percentage rates — lender interest rates plus fees — the most accurate way for consumers to compare rates. Here are the average rates for the most popular loan terms:
Mortgage Rates: June 21, 2016
(Change from 6/20)
30-year fixed: 3.73% APR (+0.03)
15-year fixed: 3.10% APR (+0.03)
5/1 ARM: 3.34% APR (+0.01)
Federal Reserve Chair Janet Yellen will appear before Congress today. Market watchers will be looking for any hint regarding monetary policy, which could also move the market.
NerdWallet daily mortgage rates are an average of the lowest published APR for each loan term offered by a sampling of major national lenders. Annual percentage rate quotes reflect an interest rate plus points, fees and other expenses, providing a more accurate view of the costs a borrower might pay.