After sinking to 2-year lows Tuesday, both the 30-year and 15-year mortgage rate averages have edged up a bit. Rate movement for most other loan types was also up.

Today’s interest rate for a 15-year fixed-rate mortgage is 5.125%, which is unchanged from yesterday. The monthly payment for a $250,000 mortgage with a 15-year term and a fixed interest rate of 5.5% would be $2,042.71. The payment for the same loan with a 6% interest rate would be $2,109.64.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their loans to a lower rate, also eased.

The average rate on a 30-year mortgage in the U.S. edged closer to 6% this week and is now at its lowest level since early February 2023.

People who bought homes in the past two years may want to seek a lower interest rate. Here’s how to think it through — and how to shop.

After years of high mortgage rates that left countless would-be homeowners on the sidelines, the tide is finally turning in favor of those looking to enter the housing market. This week, the Federal Reserve slashed its benchmark rate by 50 basis points,

Mortgage rates fell to the lowest level in two years a day after the Federal Reserve cut its benchmark interest rate. The 30-year fixed-rate mortgage averaged 6.09% as of Sept. 19, according to data released by Freddie Mac on Thursday.

After sinking to 2-year lows Tuesday, both the 30-year and 15-year mortgage rate averages have edged up a bit. Rate movement for other loan types was mixed.