The average 30-year fixed-mortgage rate is 4.47 percent, up 4 basis points over the last week.

Multiple benchmark mortgage rates have been trending upward this week. The average rates on 30-year fixed and 15-year fixed mortgages both increased. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, also trended upward.

The average 30-year fixed-mortgage rate is 4.47 percent, up 4 basis points over the last week. A month ago, the average rate on a 30-year fixed mortgage was lower, at 4.39 percent.

At the current average rate, you’ll pay principal and interest of $504.90 for every $100,000 you borrow. That’s $2.37 higher compared with last week.

The average 15-year fixed-mortgage rate is 3.88 percent, up 4 basis points since the same time last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost around $734 per $100,000 borrowed. That may put more pressure on your monthly budget than a 30-year mortgage would, but it comes with some big advantages: You’ll come out several thousand dollars ahead over the life of the loan in total interest paid and build equity much faster.

The average rate on a 5/1 ARM is 4.16 percent, adding 5 basis points over the last 7 days.

These types of loans are best for those who expect to sell or refinance before the first or second adjustment. Rates could be substantially higher when the loan first adjusts, and thereafter.

Monthly payments on a 5/1 ARM at 4.16 percent would cost about $487 for each $100,000 borrowed over the initial five years, but could increase by hundreds of dollars afterward, depending on the loan’s terms.

Most financial experts expect mortgage rates to keep on climbing.

Derek Egeberg, a certified mortgage planning specialist and branch manager at Academy Mortgage, said, “The trade tariff talk continues, but even that pause in the market is not enough to hold rates down. The drift northward continues.”

Greg McBride, a senior vice president and chief financial analyst at, said, “Bond yields and mortgage rates perked up following Trump’s comments on the Fed and over concerns about global central banks pulling back on stimulus. But, with a Fed meeting coming and growing worries about tariffs impacting the economy, mortgage rates will see very limited increases.”

Jim Sahnger, a mortgage planner at Schaffer Mortgage feels rates will hold for now. He said, “There has been a lot of noise about tariffs and trade wars that have pinched the bond markets a bit this week. Concerns about inflation are warranted should tariffs push prices higher for companies and consumers alike. Manufacturers are already issuing statements that higher raw material prices will impact both profitability and end user prices. That said, it may be a bit premature to think this is a done conclusion. Looks for rates to remain stable until we get additional information to warrant this is where we are going.”