From Yahoo Finance: 2025-05-20 06:00:00

Mortgage interest rates have risen today, with the 30-year fixed rate at 6.85% and the 15-year fixed rate at 6.07%. This increase follows Moody’s downgrade of the U.S. credit rating to Aa1, causing U.S. Treasury yields to rise and impacting mortgage rates. Refinance rates are typically higher than purchase rates.

Current mortgage rates include 30-year fixed at 6.85%, 20-year fixed at 6.44%, and 15-year fixed at 6.07%. For a $400,000 mortgage with a 30-year term and 6.85% rate, monthly payments would be around $2,621 with $543,573 in total interest. A 15-year mortgage at 6.07% would have higher monthly payments but only $210,303 in total interest.

Economists don’t anticipate significant drops in mortgage rates before the end of 2025. The Federal Reserve’s decisions on the federal funds rate will impact future mortgage rates. According to the CME FedWatch tool, there’s a 92% chance rates will remain unchanged at the Fed’s June meeting, indicating rates may not drop significantly in the near future.



Read more at Yahoo Finance: Rates jump following Moody’s U.S. debt downgrade