Current mortgage interest rates have seen little change, with the average 30-year fixed rate at 6.72% and the average 15-year fixed rate at 5.97%. Rates have actually increased since last year, surprising many who expected a decrease. National averages for various mortgage terms are provided, including refinance rates which tend to be slightly higher than purchase rates. Consider factors like property taxes and insurance when estimating monthly payments. Trends suggest ARM rates may occasionally be similar to or higher than fixed rates. Shopping around for the best lenders and rates is key for securing a favorable mortgage rate.

Read more at Yahoo Finance: Rates have increased since last July