الاثنين، 28 أغسطس 2023

PC Shipments Still Falling After COVID Pushed High Sales


PC shipments have still yet to match the record numbers from 2020 and 2021 amid the COVID pandemic as many people bought new devices for working from home. And in 2023, shipments are forecast to drop again by 13.7% year over year to 252 million PCs, according to the latest International Data Corporation tracking numbers published Monday.

But the steady decline recorded since the pandemic could be coming to an end — shipments are predicted to grow to 261.4 million PCs next year, IDC says.

Part of the continued decline is due to PCs competing now with smaller smart devices like phones, tablets and gaming consoles.

“Consumer demand remains tepid at best as the segment continues to face economic headwinds,” Jitesh Ubrani, research manager for IDC Mobility and Consumer Device Trackers, said in a statement.

Artificial intelligence is also affecting PC purchasing decisions within businesses, including whether to postpone buying new computers until they’re better equipped for AI tasks, IDC says.

“The introduction of generative AI has all IT decision makers questioning where to prioritize budgets,” IDC said. “While AI-capable PCs are not ready today, they are coming.”

If you’re looking for a new PC, here are the best budget laptops for 2023, the best 15-inch laptops for work and gaming and the best laptops for college.

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OpenAI Wants Its New ChatGPT to Be Your ‘AI Assistant for Work’


OpenAI is pushing further into the workplace. The company on Monday unveiled ChatGPT Enterprise, a new corporate version of its generative AI chatbot designed to be used by large companies. This version of ChatGPT is the next step toward building an all-encompassing “AI assistant for work,” the company said, adding that it believes AI can “elevate every aspect of our working lives.”

OpenAI said ChatGPT Enterprise, which is now available, will offer enhanced security, advanced data analysis functions, new abilities to input longer prompts and include a range of customization options. It will give businesses access to GPT-4, the latest version of the company’s AI technology. With the enterprise edition, OpenAI will also eliminate usage caps and promises performance up to twice as fast as previous versions.

OpenAI said that ChatGPT has already been used in 80% of Fortune 500 companies, and the company is promising new privacy safeguards. OpenAI said that ChatGPT Enterprise will not be trained on a company’s conversations, data or usage. Companies who have already tested the new corporate ChatGPT include Estée Lauder, graphic design software company Canva, content management platform Asana and the payment app Klarna.

OpenAI also offers a free version of ChatGPT for consumers, as well as a $20-a-month subscription option. There are also paid options for API access that let developers build ChatGPT into their own apps and services. An OpenAI spokesperson said pricing for ChatGPT Enterprise will vary depending on each company’s use case.

Since OpenAI’s initial release of ChatGPT late last year, generative AI has disrupted the workplace, education, fitness and more, leading to questions about its usefulness and impact on society. Nearly every major tech company has developed or implemented its own AI-powered features and chatbots. Both Microsoft’s Bing and Google’s Search have been implementing generative AI in their search experiences, while Amazon uses AI in its cloud service, and Meta has experimented with chatbots and language translation services.

In the workplace specifically, AI has been met with mixed reactions. According to predictions in a March report from Goldman Sachs, generative AI could potentially replace 7% of “current US employment” and complement 63%, while 30% could be unaffected by AI automation. However, many US workers are more hopeful than concerned about the impact of AI on their jobs, according to a recent Pew survey, even in jobs where key activities could be replaced by the technology. 

In hiring, software has long been used for recruiting and screening applicants, though rapid adoption of ChatGPT and other AI tools for hiring has raised concerns. Earlier this year, CNET’s Laura Michelle Davis reported that it’s now common for job seekers to be “rejected by a robot before they’re connected with an actual human in human resources.”

Editors’ note: CNET is using an AI engine to help create some stories. For more, see this post.

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iPad Pro Overhaul Reportedly to Include OLED Display, Revamped Magic Keyboard


Apple reportedly plans to overhaul its iPad Pro lineup next year with OLED displays and a revamped Magic Keyboard.

The revamp — the first major makeover of the line of tablets in half a decade — is intended to reinvigorate consumer interest and clear up confusion in the lineup, Bloomberg’s Mark Gurman reported Sunday. Gurman notes that the iPad generates the least amount of revenue among Apple’s major products.

The lineup will, for the first time, sport OLED screens instead of the Mini-LED display tech that’s also been used in Apple’s MacBook Pros, Gurman writes. The models are expected to come in 11- and 13-inch displays, slightly larger than the current 12.9 inches, he wrote.

The new lineup is also expected to be powered by Apple’s rumored M3 chip, Gurman writes. Apple launched its M chips to power the company’s line of MacBooks, Macs and iPads in 2020 after years of using Intel processors.

The tablets will also sport an updated Magic Keyboard that will help the iPad perform more like a laptop, along with the addition of a larger trackpad — addressing a complaint about the tablet, Gurman writes. The Magic Keyboard, which was announced in 2020, doubles as both a keyboard and an adjustable stand.

While Apple is expected to hold a launch event in the coming weeks that will likely focus on a new iPhone and Watch, Gurman doesn’t expect the new iPads to be unveiled until the spring or early summer of 2024.

Apple didn’t immediately respond to a request for comment.

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Best Internet Providers in Washington


Washington has many claims to fame: Apples, Mount Rainier, Starbucks, the Seahawks, Microsoft. Despite its famous tech connections, the Evergreen State doesn’t have the fastest internet in the country. In fact, it places in the bottom half of Ookla’s Speedtest.net rankings of broadband speeds for US states. City dwellers will have more choices in ISPs than most rural residents. Big national names like Xfinity, CenturyLink, T-Mobile Home Internet, Verizon 5G Home Internet and Spectrum all have a presence in Washington. The best ISP for your home depends on which providers service your location. 

CNET examines customer service, speed, pricing and overall value before recommending the best broadband in your area. When it comes to Washington state, that means Xfinity is CNET’s pick for the top ISP in Washington thanks to wide availability and a variety of plan options. CenturyLink Fiber (branded as Quantum Fiber in some places) gets our nod as a top choice for fiber. The biggest issue with CenturyLink Fiber is its limited coverage area.

Kick back with a two-shot steamed hot oat milk light foam extra caramel drizzle grande macchiato and peruse CNET’s recommendations for the top ISPs in Washington state.

Best internet options in Washington

Location, location, location. Our choices for best ISPs in Washington won’t be available to every address in the state. Xfinity, for example, covers large areas, but you won’t find it in Yakima or Walla Walla. Spectrum covers those spots. All prices listed on this page reflect available discounts for setting up paperless billing. If you decide not to go with automatic monthly payments, your price will be higher.

Note: The prices, speeds and features detailed in the article text may differ from those listed in the product detail cards, which represent providers’ national offerings. Your particular internet service options — including prices and speeds — depend on your address and may differ from those detailed here.

Xfinity

Best overall among internet providers in Washington

Check availability
Or call to order:
(877) 498-5506

Product details

Price range

$20 – $300 per month

Speed range

75 – 6,000Mbps

Connection

Cable

Key Info

Data caps on some plans, lots of plan options, solid customer satisfaction numbers

Comcast’s Xfinity home internet service has the widest reach of any wired ISP in Washington, with the FCC estimating it services nearly 71% of residential units. A combination of availability and decent speeds vault Xfinity to the top of our list of recommended ISPs for the state, but double check if fiber from the likes of CenturyLink or Ziply is available to you before you sign up for cable.

Availability: Xfinity’s primary presence is found running along the eastern side of the state from Bellingham in the north down to the Oregon border. It’s also available in the Spokane area. If you’re looking for cable internet in other areas of the state, check into Spectrum.

Plans and pricing: Xfinity has one of the cheapest plans available from a big ISP: $20 for 75Mbps with a one-year contract (equipment not included). On the high end, there’s a 1,200Mbps plan for $70 per month with no contract and gear included. That’s a decent deal for that speed level, though the price is only good for two years.

Fees and service details: Take your time when picking out a plan. There are a lot of details to work through with Xfinity. The lowest prices are often reserved for plans that require contracts, but there are contract-free options as well. Many plans come with a 1.2TB data cap, but there are ways around that if you’re worried about hitting the limit. Some plans include equipment. Expect the monthly price to rise once your initial promo period expires.

Read our Xfinity Internet review.

CenturyLink Fiber/Quantum Fiber

Best fiber service among internet providers in Washington

Check availability
Or call to order:
(877) 731-3490

Product details

Price range

$30 – $70 per month

Speed range

200 – 940Mbps

Connection

Fiber

Key Info

Unlimited data, no contracts, equipment included with gigabit tier

CenturyLink has two personalities. There’s its outdated and relatively slow DSL, and then there’s its fiber network. This recommendation is for CenturyLink’s fiber internet, sometimes branded as Quantum Fiber. It offers steady, fast speeds and equally speedy uploads, all for a reasonable price.

Availability: CenturyLink’s fiber service is notably available in parts of the Seattle, Spokane and Vancouver areas. It earned CNET’s recognition as the best fiber ISP in Seattle.  

Plans and pricing: Nationwide, there can be some variation in plan prices and speeds. I recently found Quantum Fiber offering 200Mbps for $50 per month or 940Mbps service for $65 per month in Seattle. In mid-2022, CenturyLink’s parent company Lumen announced speeds up to 8 gigabits for select residents near Seattle, but most customers will find speeds topping out at 940Mbps.

Fees and service details: There are no contracts and no data caps. The higher-end plan includes Wi-Fi equipment, while the lower-end plan offers you a $15-per-month Wi-Fi equipment rental or the option to provide your own gear.

Read our CenturyLink home internet review.

T-Mobile Home Internet

Best 5G home internet among providers in Washington

Check availability
Or call to order:
(877) 687-6988

Product details

Price range

$50 per month ($30 for eligible mobile customers)

Speed range

72 – 245Mbps

Connection

Fixed wireless

Key Info

Unlimited data, equipment included, no contracts, no additional fees

Verizon and T-Mobile are making a compelling case for 5G home internet across the US. If you can get a strong connection, it’s a viable and affordable alternative to some wired services, particularly DSL. T-Mobile’s coverage area across Washington is why I’m calling it out for special recognition here, but you can also compare it with Verizon’s home internet service if it’s available to you. 

Availability: T-Mobile’s coverage map shows 5G Ultra Capacity service is available in most metro areas, including Seattle, Yakima, Kennewick and Spokane.

Plans and pricing: T-Mobile’s plan is simple. For $50 per month, expect typical download speeds between 72-245Mbps. Speeds can vary quite a bit based on location and network demand. With an eligible phone plan, your monthly fee dips to $30. 

Fees and service details: In keeping with the theme of simplicity, T-Mobile has no data caps or contracts, and equipment is included. There’s a $35 setup fee, but look for a $50 reward card or other perks to make that more palatable.

Read our T-Mobile Home Internet review.

Ziply Fiber

Best rural fiber internet provider in Washington

Check availability

Product details

Price range

$40 – $300 per month

Speed range

100 – 10,000Mbps

Connection

Fiber

Key Info

Unlimited data, no contracts, fast rural internet connection

Ziply Fiber has been building out its network to suburban and rural communities in Washington. While Ziply also offers DSL in some parts of its Northwest footprint, this recommendation is specifically for its fiber service, which delivers speeds up to 10Gbps.  

Availability: Ziply services are scattered around the state, including parts of the Seattle metro area and the Tri-Cities. In late 2022, Ziply announced the acquisition of iFiber Communications, which services Grant, Douglas, Chelan, Pend Oreille, Mason, Kitsap and Franklin counties. 

Plans and pricing: Ziply’s fiber speeds run from 100Mbps to 10,000Mbps with monthly prices ranging from $20 to $300. There’s a sweet spot at the 1-gig level for $60 per month at an initial promo rate.  

Fees and service details: There are no data caps and no contracts required with Ziply. Some plans start off at a low promotional rate and then go up after a year. For example, the $20-per-month 100Mbps plan goes up to $40. There’s an optional $10 per month equipment fee. If you get the 10-gig service, be prepared for a $300 installation fee.

Read our Ziply Fiber review.

Check Ziply Fiber availability

Starlink

Best potential among satellite internet providers in Washington

Check availability

Product details

Price range

$20 – $80 per month

Speed range

20 – 250Mbp

Connection

Satellite

Key Info

1TB data limit, no term contract, low latency

Starlink doesn’t outright run away with my recommendation for best satellite internet in Washington state, but it’s close. At its best, Starlink’s speeds top those of competitors Viasat and HughesNet, but downloads can vary considerably based on network demand. Starlink is launching satellites at a furious pace, which should help ease congestion issues.

Availability: Starlink is still building up its capacity, so availability may vary. A recent look at Starlink’s map shows most of the state is open, with a few small pockets still waiting for service later in the year.

Plans and pricing: There are two tiers of service, with the standard plan running $120 per month for typical speeds in the 25-220Mbps range. Power users might want to opt for the $250-per-month priority plan that comes with 1TB of prioritized data and priority support. Starlink says the pricier plan gives users “faster and more consistent speeds.” 

Fees and service details: One of Starlink’s most attractive features is that it doesn’t require a contract. Data is unlimited, but subscribers to the priority plan will get network precedence over standard plan users. As with other satellite ISPs, equipment is expensive. Most residential users will want to opt for the $599 standard hardware.

Read our Starlink overview.

Check Starlink availability

Rural internet options in Washington

Provider Connection typePrice rangeSpeed rangeData capAvailabilityAdvanced High Speed Internet Fixed wireless$40-$1503-200MbpsNoneYakima CountyBenton REA PowerNET Fixed wireless$50-$1202-100MbpsNoneMid-Columbia and Lower Yakima ValleysNikola Broadband Fixed wireless$70-$15010-100MbpsNoneSequim areaPOVN Fixed Wireless/fiber$75-$1305-100MbpsNonePend Oreille CountyPtera Fixed wireless/fiber$45-$11515-1,000MbpsNoneInland NorthwestToledoTel Fiber$60-$21525-1,000MbpsNoneToledo areaWashington Broadband Fixed wireless/cable/fiber$39-$2501.5-900MbpsNoneYakima areaWifiber Fixed wireless/fiber$45-$1604-1,000MbpsNoneEastern WashingtonZiply Fiber Fiber$20-$300100-10,000MbpsNoneSnohomish County 

Show more (5 items)

Shop Providers

Source: CNET analysis of provider data

Rural internet can be tricky. Some lucky residents may be able to get a fiber connection. Ziply Fiber has been expanding its Washington presence both by building out its network and by acquiring existing ISPs. For example, Ptera, a fiber and fixed wireless provider focused on the Inland Northwest, is a Ziply company. 

No fiber? I recommend checking into wired options for rural internet first. That may mean CenturyLink DSL, which tops out at 100Mbps for $50 per month (but may be considerably slower depending on your location). Compare with T-Mobile Home Internet or Verizon 5G Home Internet, if available. Those 5G services are easy to test out with very little commitment and may provide a faster internet experience than DSL. 

If wired and 5G internet don’t work out for your home, next look into fixed wireless. Washington is dotted with local ISPs that offer fixed wireless to rural addresses. Most top out at 100Mbps speeds, but your mileage will vary depending on your location. You’ll need a good line of sight to a tower. Satellite internet from Starlink, Viasat or HughesNet is often seen as a last resort. It’s expensive, and speeds can be slow. 

The companies listed in our chart are just some of the many ISPs serving Washington. Run your address through the FCC National Broadband Map to see which providers might reach your location. You may discover a local ISP you weren’t aware of.

Washington broadband at a glance

Washington homes are completely blanketed with broadband internet access, according to the FCC, but the real story is more subtle. The FCC takes into account satellite internet coverage, which isn’t a great option for most residents. The widest-reaching ISP is cable provider Xfinity, but rival cable provider Spectrum covers some chunks of the state where Xfinity doesn’t go. CenturyLink’s outdated DSL network is available in more areas than its fiber network. 

FCC data shows fiber reaches around 28% of residences in the state, with a concentration in the larger metro areas. Some — with Ziply Fiber being the biggest name — even serve more rural areas. Some smaller local providers also offer limited fiber coverage alongside fixed wireless service. CenturyLink Fiber/Quantum Fiber is our top choice for fiber service in Seattle, and it can be found in parts of Spokane as well.

How fast is Washington broadband?

The FCC defines broadband as speeds of at least 25Mbps down and 3Mbps up. By that metric, all Washingtonians can access broadband internet. If we start moving up the speed scale, then FCC data tells a different story. Roughly 90% of Washington residents can access speeds of at least 100Mbps down. When we get to a gig, though, only about 28% of residences are covered. 

A recent Ookla Speedtest.net ranking put Washington in 36th place among US states for median download speeds. Washington clocked in at about 172Mbps. Ookla highlighted Xfinity as the state’s fastest provider, with a median download speed of 236Mbps. Ookla also tracks speeds for the 100 most populous cities in the country. Seattle, despite being a tech hub, ranked only in 97th place. That’s not a great showing. If your internet is feeling pokey, there may be ways to improve it. Try these four steps for speeding up your internet connections.

Kirk Fisher/GettyImages

Internet pricing in Washington

A monthly bill of around $50 is a pretty standard entry-level price point for home internet, but there are ways to save. Xfinity’s 75Mbps plan will run you a mere $20 per month. However, that cheap plan price is good for only 12 months with a contract, and you’ll need to rent your gear for $15 per month or provide your own equipment. Let’s also look at value. CenturyLink’s 940Mbps fiber plan for $65 (modem included) gives you a good bang for the buck. 

T-Mobile or Verizon phone customers can check into bundling an eligible mobile plan with home internet service. That can bring your monthly internet bill down to as low as $30 with T-Mobile or $25 with Verizon. Open slots may be limited and speeds can vary depending on your location, but the no-contract plans make it easy to test out the connection to see if it will work for you.

Internet for low-income households in Washington

The federal Affordable Connectivity Program should be your first stop when looking for financial assistance with your internet bill. Eligible low-income households can get $30 ($75 on tribal lands) off their monthly bill. Most ISPs participate, so that means free or cheap internet or a discount on a faster, more expensive plan.

The future of broadband in Washington

Washington has a good opportunity to improve its internet performance thanks to a $1.2 billion federal investment from the Broadband Equity Access and Deployment program. BEAD is designed to expand broadband access across the US. That includes building out networks to reach unserved and underserved areas. The state is working out how to use the funds and invites public feedback through the Washington State Broadband Office. The office’s data shows that roughly 264,000 households in the state haven’t adopted broadband services. Washington hopes to improve access, encourage broadband adoption and make internet service affordable. Those are all worthy goals.

How CNET chose the best internet providers in Washington

Internet service providers are numerous and regional. Unlike the latest smartphone, laptop, router or kitchen tool, it’s impractical to personally test every ISP in a given city. So what’s our approach? We start by researching the pricing, availability and speed information drawing on our own historical ISP data, the provider sites and mapping information from the Federal Communications Commission at FCC.gov.

But it doesn’t end there. We go to the FCC’s website to check our data and ensure we’re considering every ISP that provides service in an area. We also input local addresses on provider websites to find specific options for residents. To evaluate how happy customers are with an ISP’s service, we look at sources including the American Customer Satisfaction Index and J.D. Power. ISP plans and prices are subject to frequent changes; all information provided is accurate as of the time of publication. 

Once we have this localized information, we ask three main questions: 

Does the provider offer access to reasonably fast internet speeds? Do customers get decent value for what they’re paying? Are customers happy with their service? 

While the answer to those questions is often layered and complex, the providers who come closest to “yes” on all three are the ones we recommend. 

To explore our process in more depth, visit our how we test ISPs page.

Internet in Washington FAQs

Does Washington have good internet?

Going by Ookla’s state rankings, Washington doesn’t have great internet speeds. But “good” is subjective. Fiber customers, like those who subscribe to Quantum Fiber or Ziply Fiber, are generally pretty happy with their internet thanks to fast download speeds, equally fast upload speeds and reliable service. Xfinity — Washington’s most widespread ISP — has fast speed tiers available along with above-average customer satisfaction scores. Overall, Washington has room to improve its broadband reach and speeds.

Is there fiber internet in Washington?

Yes, though it’s not very widespread. CenturyLink Fiber/Quantum Fiber and Ziply Fiber are two of the biggest providers in the state, but FCC data shows less than 30% of Washington homes have access to fiber. There are smaller, local ISPs with a limited fiber reach. Check out our rural internet chart above for some of those providers.

Is CenturyLink or Xfinity better for internet service in Washington?

Both CenturyLink and Xfinity have a notable presence in Washington. If both service your address, then it’s time to take a closer look at your options. CenturyLink’s old-school DSL network typically maxes out at 100Mbps (and sometimes much less, depending on your location). If it’s down to DSL or cable, then consider Xfinity’s faster top speeds first. However, if CenturyLink’s fiber network (sometimes branded as Quantum Fiber) is available to you, then give that some weight. Fiber is reliable and fast, both up and down. CenturyLink’s 940Mbps speed tier (which includes your equipment rental) is also good value for your money.

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Microsoft’s Next Special Event Is Happening Sept. 21


Microsoft is holding an event in September to show off its upcoming product releases and the new innovations in artificial intelligence it’s making across the company. 

An invitation to the Sept. 21 show in New York City went out to the media Aug. 17. Microsoft hasn’t provided many details about the event, but said Monday that it’ll share AI innovations and the latest on Microsoft 365, Bing, Windows, Surface and more. 

In October last year, Microsoft had a show focusing on its Surface hardware. The company unveiled the Surface Pro 9, the Surface Laptop 5 and the Surface Studio 2 Plus.

Microsoft continues to make AI a focus for the company, incorporating AI chat into its Edge browser and Bing search engine. It also launched a tool called Windows Copilot, which brings an AI chat interface to Windows. Microsoft could be looking to make AI a fixture in its other products. 

September should be a big month for tech company events. Apple is expected to hold an event in September to reveal the next iPhone. And Meta and Google tend to have their own events around the same time as well. 

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Mortgage Interest Rates Today for Aug. 28, 2023: Rates Increased


A number of closely followed mortgage rates moved up over the last seven days. The average 15-year fixed and 30-year fixed mortgage rates both inched up. For variable rates, the 5/1 adjustable-rate mortgage also ticked up.

As inflation surged in 2022, so too did mortgage rates. To rein in price growth, the Federal Reserve began bumping up its federal funds rate — a short term interest rate that determines what banks charge each other to borrow money. By making it more expensive to borrow, the central bank’s goal is to reduce prices by curtailing consumer spending.

During its July 26 meeting, the Fed initiated a 25-basis point (or 0.25%) hike to its federal funds rate, marking its 11th increase in the current rate hiking cycle. The most recent increase could have an impact on mortgage rates, but experts say the markets may have already factored it into rates.

Current mortgage rates for August 2023

With mortgage rates higher than they’ve been since 2002, comparing mortgage quotes from multiple lenders can help you find the lowest rate. Enter your information below to see if one of CNET’s partner lenders can offer you a below average rate. 

About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you can use when comparing multiple mortgage rates.

“Mortgage rates will continue to ebb and flow week to week, but ultimately, I think rates will stick to that 6% to 7% range we’re seeing now,” said Jacob Channel, senior economist at loan marketplace LendingTree.

The Fed doesn’t set mortgage rates directly, but it does play an influential role. Mortgage rates move around on a daily basis in response to a range of economic factors, including inflation, employment and the broader outlook for the economy. A lower inflation rate is good news for mortgage rates, but the potential for additional hikes from the central bank this year will keep upward pressure on already high rates.

Rather than worrying about mortgage rates, though, homebuyers should focus on what they can control: getting the best rate they can for their financial situation.

To increase your odds at qualifying for the lowest rate available, take the steps necessary to improve your credit score and to save for a down payment. Also, be sure to compare the rates and fees from multiple lenders to get the best deal. Looking at the annual percentage rate, or APR, will show you the total cost of borrowing and help you make an apples-to-apples comparison among lenders.

30-year fixed-rate mortgages

The average 30-year fixed mortgage interest rate is 7.61%, which is a growth of 6 basis points compared to one week ago. (A basis point is equivalent to 0.01%.) The most common loan term is a 30-year fixed mortgage. A 30-year fixed mortgage will often have a higher interest rate than a 15-year fixed rate mortgage — but also a lower monthly payment. You won’t be able to pay off your house as quickly and you’ll pay more interest over time, but a 30-year fixed mortgage is a good option if you’re looking to minimize your monthly payment.

15-year fixed-rate mortgages

The average rate for a 15-year, fixed mortgage is 6.83%, which is an increase of 1 basis point from seven days ago. You’ll definitely have a bigger monthly payment with a 15-year fixed mortgage compared to a 30-year fixed mortgage, even if the interest rate and loan amount are the same. However, if you can afford the monthly payments, there are several benefits to a 15-year loan. You’ll usually get a lower interest rate, and you’ll pay less interest in total because you’re paying off your mortgage much quicker.

5/1 adjustable-rate mortgages

A 5/1 adjustable-rate mortgage has an average rate of 6.54%, an uptick of 7 basis points from the same time last week. For the first five years, you’ll typically get a lower interest rate with a 5/1 adjustable-rate mortgage compared to a 30-year fixed mortgage. However, changes in the market could cause your interest rate to increase after that time, as detailed in the terms of your loan. Because of this, an ARM could be a good option if you plan to sell or refinance your house before the rate changes. If not, changes in the market might significantly increase your interest rate.

Mortgage rate trends

Mortgage rates were historically low throughout most of 2020 and 2021, but increased steadily throughout 2022 as the Federal Reserve began aggressively hiking interest rates. Now, mortgage rates are well above where they were a year ago. What does this mean for homebuyers this year?

“Mortgage rates have hovered in the 6% to 7% range for the past 10 months. Though home prices have softened slightly nationally, the still-high cost of borrowing means hopeful home buyers have felt little relief,” said Hannah Jones, economic research analyst at Realtor.com.

However, if inflation continues to decline and the Fed is able to hold rates where they are and eventually cut them, mortgage rates are likely to decrease slightly in 2023. However, they’re highly unlikely to return to the rock-bottom levels of just a few years ago.

The most recent housing forecast from Fannie Mae calls for the average 30-year fixed mortgage rate to close out the year at around 6.6%.

“Mortgage rates have been volatile for some time now and while they could eventually start trending down over the next six months to a year as inflation growth continues to cool, their path is probably going to be bumpy,” Channel said.

We use information collected by Bankrate to track changes in these daily rates. This table summarizes the average rates offered by lenders across the country:

Current average mortgage interest rates

Loan typeInterest rateA week agoChange30-year fixed rate7.61%7.55%+0.0615-year fixed rate6.83%6.82%+0.0130-year jumbo mortgage rate7.62%7.58%+0.0430-year mortgage refinance rate 7.83%7.75%+0.08

Rates as of August 28, 2023.

How to shop for the best mortgage rate

You can get a personalized mortgage rate by reaching out to your local mortgage broker or using an online calculator. When researching home mortgage rates, consider your goals and current finances.

Things that affect the mortgage rate you might get include: your credit score, down payment, loan-to-value ratio and your debt-to-income ratio. Generally, you want a higher credit score, a larger down payment, a lower DTI and a lower LTV to get a lower interest rate.

Aside from the mortgage interest rate, additional costs including closing costs, fees, discount points and taxes might also affect the cost of your house. You should shop around with multiple lenders — such as credit unions and online lenders in addition to local and national banks — in order to get a mortgage that works best for you.

What is a good loan term?

One important thing you should consider when choosing a mortgage is the loan term, or payment schedule. The most common mortgage terms are 15 years and 30 years, although 10-, 20- and 40-year mortgages also exist. Another important distinction is between fixed-rate and adjustable-rate mortgages. For fixed-rate mortgages, interest rates are the same for the life of the loan. For adjustable-rate mortgages, interest rates are fixed for a certain number of years (typically five, seven or 10 years), then the rate adjusts annually based on the market interest rate.

When deciding between a fixed-rate and adjustable-rate mortgage, you should take into consideration the length of time you plan to stay in your house. Fixed-rate mortgages might be a better fit for those who plan on living in a home for a while. Fixed-rate mortgages offer greater stability over time compared to adjustable-rate mortgages, but adjustable-rate mortgages may offer lower interest rates upfront. If you aren’t planning to keep your new house for more than three to 10 years, though, an adjustable-rate mortgage may give you a better deal. There is no best loan term as a general rule; it all depends on your goals and your current financial situation. Be sure to do your research and think about your own priorities when choosing a mortgage.

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How To Fix A Scratched DVD Or CD (3 Different Ways)




Assuming the scratches aren't too deep and on the wrong side of the disc, these methods can make your old Xbox games, music CDs, and movie DVDs usable again.

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AI Deepfake Ads: Tom Hanks, Gayle King Sound Warning

Tom Hanks is pretty recognizable, whether he’s holding a box of chocolates in Forrest Gump or wearing a space suit in Apollo 13. But should...