Current mortgage rates are under 6%, with the average 30-year fixed rate at 5.90% and the 15-year fixed rate at 5.36%. Mortgage refinance rates are slightly higher, such as the 30-year fixed at 6.01% and the 15-year fixed at 5.45%. When deciding between a 15-year and a 30-year mortgage, consider your goals, as a 15-year term offers lower interest but higher monthly payments. Factors like property taxes and insurance should also be considered when using a mortgage calculator to estimate payments. It’s important to shop around with mortgage lenders to find the best deal based on your financial situation.

Read more at Yahoo Finance: Weekly rates drop by 19 basis points