Mortgage Rate as of October 5, 2022
Mortgage Interest Rate: 30-year fixed 6.375% (APR 6.422%), 15-year fixed 5.750% (APR 5.801%)
Loan Term: APR (Annual Percentage Rate) APR is the annual cost of a loan to a borrower, including fees. Like an interest rate, the APR is expressed as a percentage. Unlike an interest rate, however, it includes other charges or fees such as mortgage insurance, most closing costs, discount points and loan origination fees.
Source: Time Mortgage, Englewood Cliffs, NJ
