Mortgage rates are fluctuating this weekend, with the 30-year fixed rate at 6.60% and the 15-year fixed rate at 5.76%. Rates have increased by over 40 basis points compared to 2024. If you’re looking to buy a house, consider locking in a mortgage now as rates are not expected to plummet soon. Mortgage refinance rates are slightly higher than purchase rates, with the 30-year fixed at 6.66% and the 15-year fixed at 5.39%. When deciding between a 15-year and a 30-year mortgage, consider your short-term versus long-term goals. Fixed-rate mortgages lock in your rate for the entire loan term, while adjustable-rate mortgages have a set period before rates can change. It’s essential to compare APR when choosing a lender, as it reflects the true annual cost of borrowing money.

Read more at Yahoo Finance: Mortgage and refinance interest rates today, August 3, 2025: Rates remain high