Rates are stable, but house prices could go up
From Yahoo Finance: 2025-04-04 06:00:00
Mortgage rates have slightly decreased this week. The average 30-year fixed interest rate is now at 6.64%, while the 15-year fixed rate fell to 5.82%. It may be a good time to buy a house with steady rates, even as President Trump’s tariffs could impact construction costs. Uncertainty in the real estate market makes stable rates a bright spot for buyers.
Current mortgage rates per Zillow data:
– 30-year fixed: 6.47%
– 20-year fixed: 6.19%
– 15-year fixed: 5.81%
– 5/1 ARM: 6.47%
– 7/1 ARM: 6.55%
– 30-year VA: 5.95%
– 15-year VA: 5.62%
– 5/1 VA: 5.95%
– 30-year FHA: 5.95%
– 5/1 FHA: 5.69%
Remember, these rates are national averages rounded to the nearest hundredth.
Today’s mortgage refinance rates per Zillow:
– 30-year fixed: 6.46%
– 20-year fixed: 6.08%
– 15-year fixed: 5.85%
– 5/1 ARM: 6.61%
– 7/1 ARM: 6.77%
– 30-year VA: 6.01%
– 15-year VA: 5.74%
– 5/1 VA: 5.85%
– 30-year FHA: 6.08%
– 15-year FHA: 5.62%
– 5/1 FHA: 5.63%
Refinance rates are often higher than purchase rates.
Your mortgage rate affects your monthly payment. Factors like down payment, loan type, and mortgage insurance also impact it. Use the Yahoo Finance home affordability calculator to determine how much house you can afford. Fixed-rate mortgages keep your rate constant, while adjustable-rate mortgages change periodically.
Consider a 30-year fixed-rate mortgage for lower payments and rate predictability. Opt for a 15-year fixed-rate to pay off the loan quickly and save on interest. Adjustable-rate mortgages are ideal if you plan to sell before the introductory rate ends.
Mortgage rates have been stable lately, with minor fluctuations. Rates are likely to remain steady or gradually decrease, rather than nosedive, in the coming years. Don’t wait for lower rates to buy a house, as it may not be worth delaying your move.