National mortgage rates continue to surge

Mortgage interest rates rose for all loan terms compared to the previous week, according to data from consumer financial services company Bankrate. Average rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans all saw increases over the seven days leading up to June 20.

The average rate for a 30-year fixed mortgage is now at 5.99%, up 0.21% from the average 5.78% reported last week. A month ago, the 30-year fixed rate averaged at 5.39%.

The 15-year fixed rate is now at 5.18%, jumping 0.27% from last week’s 4.91%. Additionally, the rate for 5/1 ARMs now sits at 4.10%, up 0.16% from 3.94%, while jumbo rates climbed 0.12% to 5.91%.