Mortgage rates ticked down on Tuesday: The average 30-year mortgage rate is 3.47%, which equates to a $447.37 monthly payment per $100,000 borrowed. A month ago, the equivalent payment would have been lower by $2.24.
If you were to opt for a shorter term, the average 15-year mortgage rate is 2.74%, which equates to a $678.15 monthly payment per $100,000 borrowed. A month ago, the equivalent payment would have been lower by $2.85.