Mortgage and refinance interest rates today, September 18, 2025: Refinancing highest since Jan. 2022 as rate fall again

Core Insights - Mortgage rates have decreased for another week, with the 30-year fixed-rate mortgage at 6.26% and the 15-year fixed-rate mortgage at 5.41% [1] - The share of mortgage applications for refinancing has reached nearly 60%, the highest level since January 2022 [1] Mortgage Rates Overview - The current national average mortgage rates include: - 30-year fixed: 6.15% - 20-year fixed: 6.62% - 15-year fixed: 5.49% - 5/1 ARM: 6.82% - 7/1 ARM: 6.88% - 30-year VA: 5.75% - 15-year VA: 5.15% - 5/1 VA: 5.85% [4] - Another set of current rates shows: - 30-year fixed: 6.21% - 20-year fixed: 5.61% - 15-year fixed: 5.58% - 5/1 ARM: 6.97% - 7/1 ARM: 6.94% - 30-year VA: 5.78% - 15-year VA: 5.43% - 5/1 VA: 5.33% [5] Economic Impact on Mortgage Rates - The recent Fed quarter-point rate cut has not yet reflected in mortgage rates, and the "Fed effect" will be observed in the coming week [2] - The 10-year Treasury yield, which serves as a benchmark for mortgage rates, increased immediately after the Fed announcement, indicating potential volatility in mortgage rates [2] Refinancing Insights - The refinancing interest rates can be higher than purchase mortgage rates, which is a common trend [11] - The share of refinancing applications has surged, indicating a strong interest in refinancing among homeowners [1]