From Yahoo Finance: 2025-06-21 06:00:00

Mortgage rates today are fluctuating, with a lower 30-year fixed rate at 6.77% and a higher 15-year fixed rate at 6.05%. The Federal Reserve’s decision to keep rates steady contributes to this trend. Mortgage Bankers Association’s forecast predicts little change in rates for the remainder of 2025 and into 2026.

According to Zillow, current mortgage rates are as follows: 30-year fixed: 6.77%, 20-year fixed: 6.51%, 15-year fixed: 6.05%, 5/1 ARM: 6.93%, and more. National averages are rounded to the nearest hundredth, providing a snapshot of the current mortgage landscape.

The pros of a 30-year fixed mortgage include lower monthly payments and predictability, while the main disadvantage is higher interest rates. On the other hand, 15-year fixed rates offer lower interest rates and quicker payoff, but higher monthly payments. Understanding these differences helps in making informed mortgage decisions.

Adjustable-rate mortgages (ARMs) offer lower introductory rates than fixed rates, leading to lower initial payments. However, rates can change after the intro period, making payments unpredictable. Considering your future plans and risk tolerance is crucial when deciding between fixed and adjustable mortgage rates.

The current housing market presents a relatively good time to buy a house, with stable home prices and unpredictable mortgage rates. Timing the market perfectly is challenging, so making a decision based on personal circumstances is key. Factors like home prices, mortgage rates, and individual needs should guide your home buying journey.



Read more at Yahoo Finance: 30-year home loan rates dip slightly