From Yahoo Finance: 2025-04-26 06:00:00

Today, most mortgage rates have decreased. The 30-year fixed rate is now 6.71%, below 6.75%. The 15-year fixed rate is at 6.00%, its lowest in three weeks. Interest rates are volatile, so consider locking in a rate this weekend. Current national averages are provided, including 30-year VA at 6.23% and 15-year VA at 5.73%.

Mortgage refinance rates have also dropped. The 30-year fixed refinance rate is 6.72%, with 15-year fixed at 6.10%. Refinance rates are typically higher than purchase rates. Use a mortgage calculator to estimate monthly payments including insurance and taxes. Consider factors like private mortgage insurance and association dues for a more accurate estimate.

A 30-year fixed mortgage offers lower and predictable monthly payments. However, it comes with higher short and long-term mortgage interest rates. In contrast, a 15-year fixed mortgage has lower interest rates but higher monthly payments. Consider the pros and cons of each term to make an informed decision.

Adjustable-rate mortgages (ARMs) offer lower introductory rates than fixed-rate mortgages. However, rates can change after the intro period, leading to unpredictable payments. Consider your future plans before choosing an ARM. Now is a good time to buy a house, but don’t base your decision solely on interest rates. Timing the market can be challenging, so buy when it’s right for you.



Read more at Yahoo Finance: Rates are finally under 6.75% again