From Yahoo Finance: 2025-03-29 06:00:00

Mortgage rates have decreased today, with the 30-year fixed rate at 6.59% and the 15-year fixed rate at 5.91%. Interest rates on both purchase and refinance mortgages have fallen slightly since the beginning of the year, making it a good time to buy or refinance. National averages provided by Zillow.

Current mortgage rates are as follows: 30-year fixed: 6.59%, 20-year fixed: 6.41%, 15-year fixed: 5.91%, 5/1 ARM: 6.82%, 7/1 ARM: 7.13%, 30-year VA: 6.09%, 15-year VA: 5.67%, 5/1 VA: 6.22%. Rates are rounded to the nearest hundredth.

Mortgage refinance rates today: 30-year fixed: 6.55%, 20-year fixed: 6.27%, 15-year fixed: 5.84%, 5/1 ARM: 6.54%, 7/1 ARM: 6.56%, 30-year VA: 6.20%, 15-year VA: 5.86%, 5/1 VA: 6.26%, 30-year FHA: 6.18%, 15-year FHA: 6.04%. National averages provided by Zillow.

A 30-year fixed mortgage offers lower and predictable monthly payments, but comes with higher mortgage interest rates in both the short and long term. Consider the trade-offs before choosing this option.

A 15-year fixed mortgage offers lower interest rates and the ability to pay off the loan sooner, saving money on interest over time. Monthly payments will be higher compared to a 30-year term.

Adjustable-rate mortgages (ARMs) lock in rates for a set period before adjusting periodically. While initial rates may be lower than fixed rates, they come with the risk of future rate increases, making monthly payments unpredictable.

Now is a relatively good time to buy a house, as home prices are stable and mortgage rates are not expected to decrease significantly in the near future. Focus on finding the right time for your personal circumstances rather than trying to time the market.

National average 30-year mortgage rate is 6.59%, but rates can vary by location. Mortgage rates are expected to decrease slightly in 2025, but significant drops are not likely. Today’s mortgage refinance rates are lower, but improving credit score and debt-to-income ratio can help secure an even better rate.

Read more: Rates have dropped since the beginning of the year