From Yahoo Finance: 2025-03-22 06:00:00

Mortgage rates have increased today, with the average 30-year fixed rate at 6.51% and the 15-year fixed rate at 5.89%. Economists predict rates to remain steady, reaching 6.5% by year-end. It might be a good time to buy a house, as waiting for lower rates may not be beneficial. Zillow data shows current rates nationwide. Refinance rates are also provided, and a mortgage calculator is available on Yahoo Finance. Understanding the pros and cons of different mortgage terms is essential. A 30-year fixed-rate mortgage offers lower and predictable monthly payments but higher interest costs in the long run. In contrast, a 15-year fixed-rate mortgage has lower interest rates, allowing for quicker loan payoff and significant interest savings. Adjustable-rate mortgages offer lower initial rates but bring uncertainty about future rate changes. Timing a home purchase should align with personal circumstances rather than market predictions. Average mortgage rates are 6.51% nationally and may vary by location. Rates are expected to decrease slightly in 2025, with recent increases in some cases. Tips for securing a low mortgage refinance rate include improving credit score and DTI, and considering a shorter term for lower rates.



Read more at Yahoo Finance: Don’t expect rates to fall