Mortgage and Refinance Interest Rates: Lower Than Last Year, Volatile Amid Tariffs

Mortgage and refinance interest rates have increased by 21 basis points this week, with the 30-year fixed rate at 6.83% and the 15-year fixed rate at 6.03%. Despite the weekly averages being up, rates are lower than last year, and mortgage rates are volatile due to factors like President Trump's tariffs. The current mortgage rates are: 30-year fixed: 6.71%, 20-year fixed: 6.47%, 15-year fixed: 6.01%, 5/1 ARM: 6.89%, 7/1 ARM: 6.96%, 30-year VA: 6.28%, and 15-year VA: 5.80%.

Greatland Gold PLC (AIM: GGP, OTC: GRLGF) has recently revealed updated plans for its Telfer gold-copper mine and initiated a new study to expand production at the Havieron project. The company's two-year outlook for Telfer projects annual production at 280,000 to 320,000 ounces of gold and 7,000 to 11,000 tonnes of copper through to the end of 2027 [1].

The anticipated timeline includes processing high-grade ore from Havieron starting in 2028, which is expected to reduce all-in-sustaining costs (AISC) and increase outputs. Telfer's AISC is projected to be c.US$1,525 to c.US$1,650 per ounce in 2026 and c.US$1,750 to US$1,875 in 2027 [1].

Greatland has also partially mitigated downside risks with put options covering 266,000 ounces of production between CY25 and CY26. A Feasibility Study is underway to examine lifting Havieron's mining rate from 2.8Mtpa to between 4 and 4.5Mtpa [1].

Greatland's managing director, Shaun Day, described the updated mine plan as an "excellent financial outcome" and noted that the company anticipates funding the Havieron development with existing cash, supported by Telfer's cashflows and debt finance. The addition of Havieron ore to the processing feeds in 2028 is expected to deliver a step change reduction in AISC and higher volumes [1].

Additionally, Greatland's group-level tally of ore reserves, as of 31 December 2024, increased to 71 million tonnes at 1.36 grams per tonne of gold and 0.19% copper [1].

References:
[1] https://www.proactiveinvestors.com/companies/news/1069674/greatland-reveals-updated-gold-mine-plans-for-next-two-years-1069674.html