Current National Mortgage Rates: November 10, 2022—Rates Climb

Current National Mortgage Rates: November 10, 2022—rates Climb
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Today, the average rate on a 30-year fixed mortgage is 7.28%, according to Bankrate.com, while the average rate on a 15-year mortgage is 6.49%. On a 30-year jumbo mortgage, the average rate is 7.27%, and the average rate on a 5/1 ARM is 5.59%.

Related: Compare Current Mortgage Rates

Mortgage Rates for November 10, 2022

30-Year Fixed Mortgage Rates

Today, the average rate on a 30-year, fixed-rate mortgage is 7.28%, compared to last week when it was 7.27%. Over the last 52 weeks, the lowest rate was 5.91% and the high was 7.41%.

The annual percentage rate (APR) on a 30-year, fixed-rate mortgage is 7.29%. The APR was 7.28% last week. APR is the all-in cost of your loan.

With today’s interest rate of 7.28%, a 30-year fixed mortgage of $100,000 costs approximately $684 per month in principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator shows. Borrowers will pay about $146,316 in total interest over the life of the loan.

15-Year Mortgage Interest Rates

Today, the 15-year fixed mortgage rate sits at 6.49%, higher than it was yesterday. Last week, it was 6.47%. Today’s rate is higher than the 52-week low of 5.14%.

On a 15-year fixed, the APR is 6.52%. Last week it was 6.50%.

A 15-year fixed-rate mortgage of $100,000 with today’s interest rate of 6.49% will cost $871 per month in principal and interest. Over the life of the loan, you would pay $56,700 in total interest.

Jumbo Mortgage Rates

Today’s average interest rate on a 30-year fixed-rate jumbo mortgage is 7.27%, the same as last week. That’s 1.35% higher than the 52-week low of 5.92%.

Borrowers with a 30-year, fixed-rate jumbo mortgage with today’s interest rate of 7.27% will pay approximately $684 per month in principal and interest per $100,000. On a $750,000 jumbo mortgage, the monthly principal and interest payment would be approximately $5,127.

5/1 Adjustable-Rate Mortgage Rates

The current average interest rate on a 5/1 ARM is 5.59%. The 52-week low was 4.42% compared to a 52-week high of 5.59%.

If you lock in today’s 5/1 ARM interest rate of 5.59% on a $100,000 loan, your monthly payments (including principal and interest) will be $573.

How to Calculate Mortgage Payments

Mortgages and mortgage lenders are often a part of purchasing a home, but it can be tough to understand what you’re paying for—and what you can truly afford.

Using a mortgage calculator can help you estimate your monthly mortgage payment based on your interest rate, purchase price, down payment and other expenses.

Here’s what you’ll need in order to calculate your monthly mortgage payment:

  • Home price
  • Down payment amount
  • Interest rate
  • Loan term
  • Taxes, insurance and any HOA fees

How Much House Can I Afford?

The amount of house you can afford depends on a number of factors, including your income and debt.

Here are a few basic factors that go into what you can afford:

  • Income
  • Debt
  • Debt-to-income ratio (DTI)
  • Down payment
  • Credit score

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