Mortgage rates are at historic lows, with the average 30-year fixed rate at 5.85% and the 15-year fixed rate at 5.36%. National averages for 20-year fixed, 5/1 ARM, 7/1 ARM, and VA loans are also provided. Refinance rates are slightly higher, starting at 5.97% for a 30-year fixed. Using a mortgage calculator can help you estimate monthly payments and total costs. Consider factors like property taxes and insurance. Different loan terms and rates impact payments and interest paid over the life of the loan. Shop around for the best rates and consider factors like credit score and down payment amount.

Read more at Yahoo Finance: Rates fall to new lows