Mortgage rates are noticeably higher today. According to Zillow, the average 30-year fixed interest rate is up 12 basis points to 6.85%, while the 15-year fixed rate gained a whopping 21 basis points to 6.16%.
The Mortgage Bankers Association forecasts 30-year rates to remain mostly unchanged and near 6.7% through September, ending the year close to 6.6%. Only a sudden shock to the nation's economy could change that outlook. If you're looking to buy in 2025, you'll want to work to earn the lowest mortgage rate you deserve.
Dig deeper: 6 steps to choosing the right mortgage lender
Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form.
Here are the current mortgage rates, according to the latest Zillow data:
30-year fixed: 6.85%
20-year fixed: 6.58%
15-year fixed: 6.16%
5/1 ARM: 7.16%
7/1 ARM: 7.23%
30-year VA: 6.42%
15-year VA: 5.86%
5/1 VA: 6.44%
Remember, these are the national averages and rounded to the nearest hundredth.
These are today's mortgage refinance rates, according to the latest Zillow data:
30-year fixed: 6.89%
20-year fixed: 6.78%
15-year fixed: 6.23%
5/1 ARM: 7.57%
7/1 ARM: 7.68%
30-year VA: 6.51%
15-year VA: 6.28%
5/1 VA: 6.30%
Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case.
Read more: Is now a good time to refinance your mortgage?
Use the mortgage calculator below to see how various mortgage terms and interest rates will impact your monthly payments.
Our free mortgage calculator also considers factors like property taxes and homeowners insurance when determining your estimated monthly mortgage payment. This gives you a more realistic idea of your total monthly payment than if you just looked at mortgage principal and interest.
The average 30-year mortgage rate today is 6.85%. A 30-year term is the most popular type of mortgage because by spreading out your payments over 360 months, your monthly payment is lower than with a shorter-term loan.
The average 15-year mortgage rate is 6.16% today. When deciding between a 15-year and a 30-year mortgage, consider your short-term versus long-term goals.
A 15-year mortgage comes with a lower interest rate than a 30-year term. This is great in the long run because you’ll pay off your loan 15 years sooner, and that’s 15 fewer years for interest to accumulate. But the trade-off is that your monthly payment will be higher as you pay off the same amount in half the time.
Let’s say you get a $300,000 mortgage. With a 30-year term and a 6.85% rate, your monthly payment toward the principal and interest would be about $1,966, and you’d pay $407,680 in interest over the life of your loan — on top of that original $300,000.
If you get that same $300,000 mortgage with a 15-year term and a 6.16% rate, your monthly payment would jump to $2,558. But you’d only pay $160,364 in interest over the years.
With a fixed-rate mortgage, your rate is locked in for the entire life of your loan. You will get a new rate if you refinance your mortgage, though.
An adjustable-rate mortgage keeps your rate the same for a predetermined period of time. Then, the rate will go up or down depending on several factors, such as the economy and the maximum amount your rate can change according to your contract. For example, with a 7/1 ARM, your rate would be locked in for the first seven years, then change every year for the remaining 23 years of your term.
Adjustable rates typically start lower than fixed rates, but once the initial rate-lock period ends, it’s possible your rate will go up. Lately, though, some fixed rates have been starting lower than adjustable rates. Talk to your lender about its rates before choosing one or the other.
Dig deeper: Fixed-rate vs. adjustable-rate mortgages
Mortgage lenders typically give the lowest mortgage rates to people with higher down payments, great or excellent credit scores, and low debt-to-income ratios. So, if you want a lower rate, try saving more, improving your credit score, or paying down some debt before you start shopping for homes.
Waiting for rates to drop probably isn’t the best method to get the lowest mortgage rate right now. If you’re ready to buy, focusing on your personal finances is probably the best way to lower your rate.
To find the best mortgage lender for your situation, apply for mortgage preapproval with three or four companies. Just be sure to apply to all of them within a short time frame — doing so will give you the most accurate comparisons and have less of an impact on your credit score.
When choosing a lender, don’t just compare interest rates. Look at the mortgage annual percentage rate (APR) — this factors in the interest rate, any discount points, and fees. The APR, which is also expressed as a percentage, reflects the true annual cost of borrowing money. This is probably the most important number to look at when comparing mortgage lenders.
Learn more: Best mortgage lenders for first-time home buyers
According to Zillow, the national average 30-year mortgage rate is 6.85%, and the average 15-year mortgage rate is 6.16%. But these are national averages, so the average in your area could be different. Averages are typically higher in expensive parts of the U.S. and lower in less expensive areas.
The average 30-year fixed mortgage rate is 6.85% right now, according to Zillow. However, you might get an even better rate with an excellent credit score, sizable down payment, and low debt-to-income ratio (DTI).
Mortgage rates aren't expected to drop drastically in the near future, though they may inch down now and then.
We all know the struggles of not being able to see far away and if you need to, you have to carry around bulky binoculars. If you're hunting, at a sporting event, or doing any outdoor activity - you need the Starscope.
The Starscope was designed by the finest engineering and is all you need - It's small, light-weight, waterproof, and compact so you can take it with you anywhere.
You are able to see for miles with precision and depth to get the best view and amazing photos. It also turns your smartphone camera into a high-quality zoom lens that will bring your pictures to the professional level!
The Starscope is made of real, high-quality optical glass. They are multicoated just like the most expensive camera lenses, to give you super-clear images.
For a Limited Time, Get 50% Off
Oshenwatch is the latest bestselling smart watch that can help you to achieve yout health and fitness goal at home. Oshenwatch has biometric sensors that automatically measure your heart rate, blood pressure, blood oxygen, and even your sleep quality automatically. It is also designed to track your progress with apps designed to count your steps, record distances, and calculate all those calories you burn. You can also receive notifications for phone calls and text messages without even touching your phone with Oshenwatch. Oshenwatch is using advanced Bluetooth 4.0 technology lets you sync with any iOS or Android device wirelessly and provides about 96 hours of normal use and up to 15 days of standby time.
You can use it to monitor your health and crush those fitness goals all while staying connected to your family and friends. Its ideal as a gifts for this seasons, since everyone is looking to stay healthy and safe at home.
Do you also hate having slow Internet and losing the WLAN connection in some rooms? Nothing is worse than Internet sites that load forever and videos that don't start.
With Nettec Booster you can ensure that your entire home is optimally covered, no matter how far away you are from the router! Nettec Booster improves not only the WLAN signal strength in your home, but also the Internet speed! A device that everyone should have in their home.
DangoBuds's Wireless Bluetooth 5.0 Earbuds delivers incredible performance for at much cheaper price than nearest competitors. These high quality premium earbuds are perfect for taking hands free phone calls, working out, and delivers one of the the best voice and sound quality available on the market, comparable to the premium brands in the market.
DangoBuds comes with their ergonomic design give extreme wear-ability and comfort. Once in your ears, they stay there. You can take part in intense activities like running, climbing, camping or horse-riding without the slightest worry that your earphones are going to slip out.
The DangoBuds next generation earbuds have a 3-hour battery life (100 hours on standby) and each set includes a charging case that can power up your buds in just minutes. DangoBuds can also be used separately, or as a pair.
It's ideal as a gifts for your friends and family members.
TVCasterMax is a new device that's disrupting the cable TV industry. It uses cutting-edge technology to let you mirror all audio and video from your smartphone to your TV. The possibilities are endless. Watch YouTube, TV streaming services, powerpoint presentations, or simply browse the internet using your large TV as the screen and sound!
It is incredibly easy to use and small enough to be taken anywhere. Use it at home or bring it to the office. Simply plug it into any TV screen using an HDMI Cable, link it with your smartphone and you're ready to watch your mobile on the big screen! It's a perfect device you should have at home.
Your home's air can be 2-5 times more polluted than outside, containing dust, microbes and pollutants that can cause fatigue, headaches, congestion, and allergic reactions. When you spend 90% of your time indoors, this is major health issue. In fact, polluted air is ranked in the EPA's top five environmental dangers.
Proton Pure is a smart home device that improves the quality of your air indoors. In 30 minutes, it automatically filters 99.7% of invisible 0.1 micron particles - including dust, pollen, pet dander, and mold - in a 500 square feet space.
The MUAMA translator is the ideal device for all holidaymakers, business travellers and employees who frequently encounter language barriers. Difficulties caused by language barriers will soon be a thing of the past!
With just a few button clicks, language can be translated into over 43 languages in real time. The ultimate gadget for every traveller.
As we all know, loud snoring can sound like a freight train! The loud and awful noise can positively RUIN your partner’s sleep - leading to bad moods, arguments, even resentment!
Thankfully, this new breakthrough device can put an end to snoring forever! It uses intelligent technology to monitor for any indication of snoring – and if it detects any, it emits sensory feedback which stops the snoring dead in its tracks!
Copyright © 2025 drtrumpcare.com