Average Mortgage Rates Move Lower This Week: 30-Year Rates at 7.23% and 15-Year Rates at 6.49%

Average mortgage rates moved lower this week, thanks to lower U.S. Treasury yields. Despite the declines this week mortgage rates are still near 20-year highs and more than double where rates were back in 2020. Average 30-year fixed mortgage rates declined to 7.23%, down from the prior week's average rate of 7.32%. 15-year mortgage rates today are averaging 6.49%, a decline from last week's average rate of 6.87%