Mortgage and refinance interest rates today, September 17, 2025: Another drop just prior to an expected Fed rate cut

Core Insights - Mortgage interest rates are declining in anticipation of a Federal Reserve rate cut, with the average 30-year fixed mortgage rate at 6.13% and the 15-year rate at 5.41% [1][14] Current Mortgage Rates - The current national average mortgage rates include: - 30-year fixed: 6.13% - 20-year fixed: 5.52% - 15-year fixed: 5.41% - 5/1 ARM: 6.66% - 7/1 ARM: 6.62% - 30-year VA: 5.73% - 15-year VA: 5.22% - 5/1 VA: 5.88% [4] Mortgage Rate Trends - Mortgage rates have decreased since the beginning of the month but remain slightly higher compared to one year ago, according to Freddie Mac data [16] - The Federal Reserve is expected to lower short-term interest rates, but this may not significantly impact mortgage rates [15] Refinance Rates - Mortgage refinance rates are generally higher than purchase rates, although this is not always the case [2] - To secure a low mortgage refinance rate, improving credit scores and lowering debt-to-income ratios are recommended [17]