Current mortgage interest rates have seen some small changes. The average 30-year fixed mortgage rate is 6.44% while the average 15-year fixed mortgage rate is 5.73%. Rates have increased since last year, and experts predict they will stay above 6% through the next few quarters. The Fannie Mae July Housing Forecast doesn’t expect mortgage rates to hit 6% until Q3 2026. These rates are national averages rounded to the nearest hundredth. Mortgage refinance rates tend to be slightly higher than purchase rates. Consider factors like property taxes and homeowners insurance when estimating monthly payments.

Today’s mortgage refinance rates, according to Zillow data, are as follows: 30-year fixed: 6.48%, 20-year fixed: 6.31%, 15-year fixed: 5.71%, 5/1 ARM: 7.19%, 7/1 ARM: 7.08%, 30-year VA: 5.91%, 15-year VA: 5.57%, 5/1 VA: 5.93%. These are national averages rounded to the nearest hundredth. Adjustable-rate mortgages have rates locked for a set period before changing, making them a good option if you plan to sell before the rate changes. Mortgage lenders offer the lowest rates to those with higher down payments, excellent credit scores, and low debt-to-income ratios.

Interest rates for popular mortgage terms are as follows: 30-year fixed: 6.44%, 15-year fixed: 5.73%, 5/1 ARM: 6.75%. These rates are national averages based on Zillow data. Mortgage rates are not expected to drop significantly in 2025, and economists are monitoring inflation, tariffs, and the Federal Reserve. Consider buydown options to permanently lower your interest rate, but weigh the costs before deciding. Remember, rates may vary depending on your location in the U.S.

Read more at Yahoo Finance: The 30-year rate stays under 6.5%