According to Zillow data, the current 30-year fixed mortgage rate has dropped to 6.09%. That's the lowest rate in more than a year and so close to the magic 6% level that, in the recent past, sparked a wave of refinancing. Current mortgage rates Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.09% 20-year fixed: 5.75% 15-year fixed: 5.44% 5/1 ARM: 6.22% 7/1 ARM: 6.53% 30-year VA: 5.58% 15-year VA: 5.01% 5/1 VA: 5.48% Remember, these are the national ...

Mortgage rates have ticked down this week. According to Freddie Mac, the national average 30-year fixed mortgage rate has decreased by four basis points to 6.30%, putting it at 41 basis points below the 52-week average. The 15-year rate is down by two basis points to 5.53%, and it's 35 basis points under the 52-week average. Since mortgage interest rates are in a good place relative to where they've been the past year, it could be a good time to buy a house. Learn what to do if you want to buy a house b ...

Mortgage rates have decreased on some terms today and increased on others. The 30-year fixed mortgage rate continues to tick down for the second straight day. According to Zillow, the average 30-year fixed rate has fallen by one basis point to 6.26%. Read more: Where and how to find the lowest mortgage rates right now Today's mortgage rates Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.26% 20-year fixed: 5.97% 15-year fixed: 5.61% 5/1 ARM: 6.61% 7/1 AR ...

Current Mortgage Rates - The average 30-year fixed mortgage rate is currently 6.28%, while the 15-year fixed rate remains at 5.58% [1][14] - Other mortgage rates include 20-year fixed at 5.79%, 5/1 ARM at 6.69%, and 7/1 ARM at 6.79% [3] Mortgage Refinance Rates - Today's mortgage refinance rates are generally higher than purchase rates, with the average 30-year fixed refinance rate at 6.41% [4][2] Comparison of Mortgage Types - A 30-year mortgage offers lower monthly payments but results in higher total interest paid over the life of the loan compared to a 15-year mortgage, which has a lower interest rate but higher monthly payments [6][7] - For a $300,000 mortgage, the total interest paid over 30 years at 6.28% would be approximately $489,444, while for a 15-year term at 5.58%, it would be about $191,361 [8] Fixed vs. Adjustable-Rate Mortgages - Fixed-rate mortgages lock in the interest rate for the entire loan term, while adjustable-rate mortgages (ARMs) have a fixed rate for an initial period before adjusting based on market conditions [9][10] - ARMs typically start with lower rates than fixed rates, but there is a risk of rate increases after the initial period [11] Factors Influencing Mortgage Rates - Lenders offer the best rates to borrowers with higher down payments, excellent credit scores, and low debt-to-income ratios [11][12] - It is suggested that focusing on personal finances may be more effective than waiting for rates to drop [12] Choosing a Mortgage Lender - It is advisable to apply for mortgage preapproval with multiple lenders within a short time frame to ensure accurate comparisons [13] - When comparing lenders, the annual percentage rate (APR) should be considered as it reflects the true cost of borrowing [14]

Mortgage Rate Overview - Today's mortgage rates show a slight increase in the 30-year fixed rate to 6.47% and a decrease in the 15-year fixed rate to 5.66% [1][4] - The 5/1 adjustable-rate mortgage (ARM) has decreased for three consecutive days, making it potentially advantageous for buyers who plan to sell before the introductory rate period ends [2][4] Current Mortgage Rates - Current national average mortgage rates include: - 30-year fixed: 6.47% - 20-year fixed: 6.10% - 15-year fixed: 5.66% - 5/1 ARM: 6.66% - 7/1 ARM: 6.88% - 30-year VA: 5.89% - 15-year VA: 5.59% - 5/1 VA: 5.32% [4] Mortgage Comparison - A 30-year mortgage at 6.47% results in a monthly payment of approximately $1,890 for a $300,000 loan, with total interest paid over the loan's life being $380,504 [9] - A 15-year mortgage at 5.66% would have a monthly payment of about $2,477, with total interest paid being $145,823 [9] Fixed vs. Adjustable-Rate Mortgages - Fixed-rate mortgages lock in the interest rate for the entire loan term, while adjustable-rate mortgages have a fixed rate for an initial period before adjusting based on market conditions [10][11] - Adjustable rates typically start lower than fixed rates, but there is a risk of increases after the initial period [12] Factors Influencing Mortgage Rates - Lenders offer lower rates to borrowers with higher down payments, excellent credit scores, and low debt-to-income ratios [12] - It is suggested that focusing on personal finances rather than waiting for rates to drop may be a better strategy for securing lower mortgage rates [13] Choosing a Mortgage Lender - To find the best mortgage lender, it is recommended to apply for preapproval with multiple companies within a short time frame to minimize the impact on credit scores [14] - When comparing lenders, the annual percentage rate (APR) should be considered as it reflects the true annual cost of borrowing [15]

Core Insights - Location significantly impacts mortgage rates, often more than buyers realize, with variations across cities due to factors beyond home values [1][2] - Local lending competition, borrower credit profiles, state regulations, and economic stability are key factors influencing mortgage interest rates [2] - The expected range for conventional fixed-rate mortgages in 2025 is between 6.624% and 6.99% [3] Mortgage Rates and Home Prices - The median interest rate for fixed-rate mortgages is reported at 6.99% with a median home sale price of $525,000 for a 30-year mortgage [8] - In Rochester, New York, the median home sale price for a 30-year mortgage is $238,173 with an interest rate of 6.875% [1][11] - Year-over-year changes in median interest rates show a slight increase of +0.115% in some areas, while others report no change [8][9][12]

Mortgage Rates Overview - The average 30-year fixed mortgage rate has increased by four basis points to 6.47%, while the 15-year fixed rate has decreased by three basis points to 5.66% [1][4] - Current national average mortgage rates include: 30-year fixed at 6.47%, 20-year fixed at 6.10%, 15-year fixed at 5.66%, 5/1 ARM at 6.66%, and 7/1 ARM at 6.88% [4] Refinance Rates - Mortgage refinance rates are generally higher than purchase rates, with current averages including: 30-year fixed at 6.55%, 20-year fixed at 6.25%, and 15-year fixed at 5.83% [5][2] Market Conditions - The current housing market is considered relatively stable compared to previous years, with home prices not spiking as they did during the COVID-19 pandemic [15] - Economists do not expect significant drops in mortgage interest rates before the end of the year, although minor fluctuations may occur [17] Long-term Trends - The 30-year fixed mortgage rate is down 21 basis points since late July, indicating a gradual decline in rates over time [18] - The best time to buy a house is subjective and should align with individual life stages rather than attempting to time the market [16]

Mortgage Rates Overview - Mortgage rates have lost downward momentum, with the national average 30-year mortgage rate increasing by four basis points to 6.30% and the 15-year fixed mortgage rate rising by eight basis points to 5.49% [1][15] - The 10-year Treasury yield has also seen an increase, rising from 4.02% to 4.17% following the Federal Reserve's first rate cut of the year [2] Current Mortgage Rates - Current national average mortgage rates include: - 30-year fixed: 6.43% - 20-year fixed: 6.05% - 15-year fixed: 5.69% - 5/1 ARM: 6.76% - 7/1 ARM: 6.67% - 30-year VA: 5.94% - 15-year VA: 5.57% - 5/1 VA: 5.82% [6] - Another set of current rates shows: - 30-year fixed: 6.56% - 20-year fixed: 6.12% - 15-year fixed: 5.88% - 5/1 ARM: 7.13% - 7/1 ARM: 7.51% - 30-year VA: 6.08% - 15-year VA: 5.66% - 5/1 VA: 5.82% [7] Market Trends - Despite the increase in mortgage rates, purchase and refinance applications have risen compared to the same time last year [2] - Mortgage rates have remained stable or decreased since July 17, but are still about a quarter-point higher than the previous year [13] - Forecasts from Fannie Mae and the Mortgage Bankers Association suggest that mortgage rates will remain at or just above 6% through 2026 [13][16] Future Projections - The Mortgage Bankers Association expects the 30-year mortgage rate to be 6.5% by the end of the year and near 6.4% throughout 2026 [16] - Fannie Mae predicts a similar trend, with the 30-year rate at 6.4% by year-end and around 5.9% by the end of 2026 [16] - Most industry forecasts indicate that mortgage rates will likely remain close to current levels, if not slightly lower, by 2026 [17]

Core Insights - The current mortgage environment presents refinancing opportunities for households that purchased at higher rates, providing some affordability relief [1] Mortgage Rates Overview - The national average 30-year mortgage rate is currently 6.32%, down by seven basis points, while the 15-year rate has increased by 12 basis points to 5.70% [1][16] - Current mortgage refinance rates are generally higher than purchase rates, although this is not always the case [2] Current Mortgage Rates - 30-year fixed: 6.32% [4] - 20-year fixed: 5.86% [4] - 15-year fixed: 5.70% [4] - 5/1 ARM: 6.84% [4] - 7/1 ARM: 6.92% [4] - 30-year VA: 5.83% [4] - 15-year VA: 5.36% [4] - 5/1 VA: 5.83% [4] Market Conditions - The current housing market is considered relatively favorable for buyers compared to previous years, with home prices stabilizing and mortgage rates at their lowest since October 2024 [15][18] - Economists do not expect significant drops in mortgage interest rates before the end of the year, although gradual decreases may occur [17]

Mortgage Rates Overview - The 30-year fixed mortgage rate has increased by eight basis points to 6.28%, while the 15-year rate has risen by ten basis points to 5.49% [1] - A Fed Rate cut is anticipated, which may already be reflected in current mortgage rates [1] - Current national average mortgage rates are provided, rounded to the nearest hundredth [1][2] Current Mortgage Rates - 30-year fixed: 6.28% [4] - 20-year fixed: 5.78% [4] - 15-year fixed: 5.49% [4] - 5/1 ARM: 6.58% [4] - 7/1 ARM: 6.55% [4] - 30-year VA: 5.69% [4] - 15-year VA: 5.16% [4] - 5/1 VA: 5.81% [4] Refinance Rates - Mortgage refinance rates are generally higher than purchase rates, although this is not always the case [2] - Current refinance rates are also provided as national averages rounded to the nearest hundredth [2] Market Conditions - The current housing market is considered relatively favorable for buyers compared to previous years, with home prices stabilizing [15] - Mortgage rates are at their lowest since October 2024, suggesting a potential opportunity for buyers to lock in favorable rates [15][18] - Economists do not expect significant drops in mortgage interest rates before the end of the year, although gradual decreases may occur [17]