Mortgage rates have dropped, making it a good time to shop for a home

From Yahoo Finance: 2025-04-05 06:00:00

Mortgage rates have dropped today, with the 30-year fixed rate at 6.39% and the 15-year fixed rate at 5.72%. Unemployment has risen slightly to 4.2%, and recent tariffs may increase inflation. There’s uncertainty about the economy, so it could be a good time to shop for a home. National average rates are provided, and mortgage refinance rates are slightly higher.

A 30-year fixed mortgage offers lower and predictable payments, while a 15-year fixed has lower interest rates and pays off the loan sooner. Adjustable-rate mortgages have lower initial rates but can increase later. It’s a good time to buy a house, as prices aren’t spiking, and mortgage rates are expected to decrease slightly.

The national average 30-year mortgage rate is 6.39%, but rates can vary by location. Mortgage rates are expected to decrease slightly, but not significantly. It’s a good time to secure a low mortgage refinance rate by improving credit score and lowering debt-to-income ratio. Refinancing into a shorter term can lower the rate.



Read more at Yahoo Finance: Lowest 30-year rate in weeks