This weekend, mortgage rates are mixed, with the 30-year fixed rate at 6.44% and the 15-year fixed rate at 5.73%, according to Zillow. Rates have increased since last August, up 26 basis points for the 30-year fixed rate and 21 basis points for the 15-year fixed rate. Despite expectations of falling rates, the opposite has occurred. National averages for other mortgage rates include 20-year fixed at 6.16%, 5/1 ARM at 6.75%, and 30-year VA at 6.07%. Mortgage refinance rates are higher than purchase rates, but some fixed rates are starting lower than adjustable rates.

When deciding between a 15-year and 30-year mortgage, consider your goals. A 15-year mortgage has a lower interest rate but higher monthly payments. For example, a $300,000 mortgage with a 30-year term at 6.44% has a $1,884 monthly payment and $378,377 in interest, while a 15-year term at 5.73% has a $2,488 monthly payment and $147,843 in interest. Fixed-rate mortgages lock in your rate, while adjustable-rate mortgages change after an initial period. Waiting for rates to drop may not lower your rate significantly, focus on improving your financial situation.

Read more at Yahoo Finance: Don’t try to time the real estate market