The median interest rate on a 30-year fixed-rate mortgage is 5.990% as of September 19, which is unchanged from yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 5.125%, which is 0.135 percentage points higher than yesterday.

After sinking to 2-year lows Tuesday, both the 30-year and 15-year mortgage rate averages have edged up a bit. Rate movement for most other loan types was also up.

Today’s interest rate for a 15-year fixed-rate mortgage is 5.125%, which is unchanged from yesterday. The monthly payment for a $250,000 mortgage with a 15-year term and a fixed interest rate of 5.5% would be $2,042.71. The payment for the same loan with a 6% interest rate would be $2,109.64.

After years of high mortgage rates that left countless would-be homeowners on the sidelines, the tide is finally turning in favor of those looking to enter the housing market. This week, the Federal Reserve slashed its benchmark rate by 50 basis points,