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

Mortgage interest rates are lower today, with the average 30-year fixed rate at 6.79%, the 20-year fixed at 6.46%, and the 15-year fixed at 5.94%. Bond yields dropping contribute to the decrease, making the 15-year fixed mortgage the best bargain below 6%.

Current mortgage rates are 6.79% for 30-year fixed, 6.46% for 20-year fixed, and 5.94% for 15-year fixed, according to Zillow data. These national averages are rounded to the nearest hundredth.

Mortgage refinance rates today are 6.83% for 30-year fixed, 6.66% for 20-year fixed, and 6.01% for 15-year fixed. Refinance rates are generally higher than purchase rates.

30-year fixed mortgages offer lower and predictable monthly payments but come with higher interest rates compared to shorter terms or adjustable-rate mortgages.

15-year fixed mortgages have predictable payments, lower interest rates, and allow homeowners to pay off their mortgage sooner, saving on interest over the loan’s life.

Adjustable-rate mortgages (ARMs) provide lower introductory rates than fixed rates, but the rate can adjust after the initial period, leading to unpredictable payments.

National average 30-year fixed mortgage rate is 6.79%, but rates can vary by location. Rates likely to remain stable in the near future, depending on economic factors.

Securing a low mortgage refinance rate involves improving credit score, lowering debt-to-income ratio, and considering a shorter loan term for a lower rate, despite higher monthly payments.

Read more: Rates drop across the board