Mortgage rates remain calm, hovering just above 6% with only minor fluctuations week to week. According to Zillow, the average 30-year fixed mortgage rate is 6.05%. The 15-year fixed rate is 5.52%. Today's mortgage rates Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.05% 20-year fixed: 6.06% 15-year fixed: 5.52% 5/1 ARM: 6.31% 7/1 ARM: 6.30% 30-year VA: 5.61% 15-year VA: 5.21% 5/1 VA: 5.66% Remember, these are the national averages and rounded to t ...

Core Insights - Mortgage rates have stabilized since mid-October, with the average 30-year rate at 6.08% and the 15-year rate at 5.58% [1][15] - The current mortgage refinance rates are generally higher than purchase rates, with the 30-year refinance rate at 6.12% [6][15] Mortgage Rates Overview - Current national average mortgage rates include: - 30-year fixed: 6.08% - 20-year fixed: 5.98% - 15-year fixed: 5.58% - 5/1 ARM: 6.28% - 7/1 ARM: 6.22% - 30-year VA: 5.63% - 15-year VA: 5.16% - 5/1 VA: 5.45% [5] Refinance Rates - Current national average refinance rates include: - 30-year fixed: 6.12% - 20-year fixed: 6.05% - 15-year fixed: 5.57% - 5/1 ARM: 6.26% - 7/1 ARM: 6.41% - 30-year VA: 5.74% - 15-year VA: 5.39% - 5/1 VA: 5.44% [6] Long-term Rate Predictions - Economists do not expect significant drops in mortgage rates before the end of 2026, with the MBA forecasting a 30-year mortgage rate near 6.4% through 2026 [14][16] - Fannie Mae predicts a slight decrease to 5.9% in Q4 2026, while the MBA expects rates to average 6.3% in 2027 [16][18] Comparison of Mortgage Types - A 30-year mortgage at 6.08% results in a monthly payment of approximately $2,419, leading to $470,773 in interest over the term [9] - A 15-year mortgage at 5.58% has a higher monthly payment of about $3,285 but results in significantly lower total interest of $191,361 [9] Fixed vs. Adjustable Rates - Fixed-rate mortgages lock in the interest rate from the start, while adjustable-rate mortgages (ARMs) have a fixed rate for an initial period before adjusting based on market conditions [11][12] - ARMs may start with lower rates but carry the risk of increases after the initial period [13]

Core Insights - Mortgage rates have slightly decreased, with the average 30-year fixed mortgage rate falling to 6.13% and the 15-year fixed rate to 5.39% [1] - Rates have been fluctuating but remain lower since the onset of the government shutdown [1] Current Mortgage Rates - The current national average mortgage rates are as follows: - 30-year fixed: 6.13% - 20-year fixed: 5.78% - 15-year fixed: 5.39% - 5/1 ARM: 6.34% - 7/1 ARM: 6.48% - 30-year VA: 5.54% - 15-year VA: 5.29% - 5/1 VA: 5.61% [5] Refinance Rates - Today's mortgage refinance rates are also provided, indicating that refinance rates can sometimes be higher than purchase rates, but this is not always the case [3] Mortgage Rate Mechanics - Mortgage interest rates are determined by factors that can be controlled, such as comparing lenders and improving credit scores, and factors that cannot be controlled, primarily economic conditions [10][11] - Economic conditions influence mortgage rates; struggling economies typically see lower rates to encourage borrowing, while strong economies may lead to higher rates to temper spending [12] Mortgage Types - The two main types of mortgage rates are fixed and adjustable rates, with fixed rates locking in the interest for the entire loan term, while adjustable rates change after an initial period [8] - A 30-year fixed mortgage is popular for its lower monthly payments but incurs more interest over time, while a 15-year fixed mortgage has higher monthly payments but lower overall interest costs [13][14] FAQs on Mortgage Rates - Some banks, such as Bank of America and Citibank, are noted for offering lower median mortgage rates, but it is advisable to shop around for the best rates [15] - The lowest-ever 30-year fixed mortgage rate recorded was 2.65% in January 2021, and it is unlikely rates will drop below 3% in the near future [17]

Mortgage Rates Overview - Today's average 30-year fixed mortgage rate has decreased by three basis points to 6.27%, while the 15-year fixed rate is down one basis point to 5.52% [1] - Small fluctuations in mortgage rates are expected to continue until the government shutdown is resolved, with the decision to buy a house depending more on individual financial situations than on current rates [2] Current Mortgage Rates - Current national average mortgage rates include: - 30-year fixed: 6.23% - 20-year fixed: 5.87% - 15-year fixed: 5.47% - 5/1 ARM: 6.28% - 7/1 ARM: 6.37% - 30-year VA: 5.67% - 15-year VA: 5.32% - 5/1 VA: 5.58% [6] - Another set of current rates shows: - 30-year fixed: 6.33% - 20-year fixed: 6.06% - 15-year fixed: 5.73% - 5/1 ARM: 6.50% - 7/1 ARM: 6.56% - 30-year VA: 5.81% - 15-year VA: 5.48% - 5/1 VA: 5.48% [7] Mortgage Rate Types - Mortgage interest rates can be fixed or adjustable, with fixed rates locking in the rate for the entire loan term, while adjustable rates change after an initial period [9] - At the beginning of a mortgage term, most payments go toward interest, gradually shifting to pay down the principal over time [10] Factors Influencing Mortgage Rates - Mortgage rates are influenced by controllable factors such as comparing lenders and improving credit scores, as well as uncontrollable factors like the overall economy [11][12] - Economic conditions, such as employment rates, affect mortgage rates; struggling economies typically see lower rates to encourage borrowing, while strong economies may lead to higher rates [13] Mortgage Term Comparisons - A 30-year fixed mortgage offers lower monthly payments but results in higher total interest paid over time [14] - A 15-year fixed mortgage has a lower interest rate and less total interest paid, but higher monthly payments [15][16] Additional Insights - Some banks, like Bank of America and Citibank, are noted for offering lower median mortgage rates, but it is advisable to shop around for the best rates [17] - The lowest-ever 30-year fixed mortgage rate was 2.65% in January 2021, and rates are unlikely to dip below 3% in the near future [19] - Experts suggest refinancing when a new rate is at least 1% to 2% lower than the current rate, depending on individual financial goals [20]