Mortgage rates are hovering just above 6%, with some lenders offering mid-5% rates. The current rates, based on Zillow data, are as follows: 30-year fixed – 6.01%, 15-year fixed – 5.44%, 5/1 ARM – 6.23%. Mortgage refinance rates are slightly higher than purchase rates. A 30-year mortgage with a 6.01% rate would have a monthly payment of around $1,800. Consider factors like interest rates and loan terms when deciding between a 15-year and 30-year mortgage. Adjustable-rate mortgages offer lower initial rates but may increase over time. Mortgage lenders offer the lowest rates to those with high credit scores and low debt. The national average 30-year fixed rate is 6.01%. Predictions expect rates to remain above 6% in the coming years.

Read more at Yahoo Finance: Rates barely above 6% but look for even lower offers