For today, April 26th, 2022, the current average mortgage rate for a 30-year fixed-rate mortgage is 5.358%, the average rate for a 15-year fixed-rate mortgage is 4.471%, and the average rate for a 5/1 adjustable-rate mortgage (ARM) is 4.230%. Rates are quoted as annual percentage rate (APR) for new purchase.
If I recall correctly, NINJA and jumbo loans have been making a comeback.
When the rates reset, people will have to choose between paying the mortgage, paying for gas to get to work, or feeding the family. There may be the jingling sound of house keys being mailed back to the lenders soon.
Better than the 13.75 rate I got when Jimmy Carter was in office!