From Yahoo Finance: 2025-05-04 06:00:00

Today’s mortgage rates have increased. The 30-year fixed rate is up to 6.70%, and the 15-year fixed rate has risen to 5.95%. Economists predict rates to fall slightly by the end of 2025 but remain above 6%. It’s crucial to shop around for the best mortgage lenders to find the lowest rates and fees.

Current mortgage rates are as follows: 30-year fixed (6.70%), 20-year fixed (6.28%), 15-year fixed (5.95%), 5/1 ARM (6.88%), 7/1 ARM (7.13%), 30-year VA (6.24%), 15-year VA (5.66%), 5/1 VA (6.32%). These are national averages rounded to the nearest hundredth.

Mortgage refinance rates are slightly higher than rates for buying a house. For example, the 30-year fixed refinance rate is 6.75%. Consider factors like property taxes and homeowners insurance when calculating your monthly payment using a mortgage calculator.

The average 30-year mortgage rate is 6.70%, while the 15-year rate is 5.95%. Opting for a 15-year mortgage can save you money in the long run due to a lower interest rate, but your monthly payments will be higher.

With a fixed-rate mortgage, your rate is locked in for the loan’s duration. An adjustable-rate mortgage has a fixed period before the rate changes annually. Rates typically start lower with ARMs, but fixed rates have been competitive lately.

Mortgage lenders offer the lowest rates to those with higher down payments, good credit scores, and low debt-to-income ratios. Focus on improving your finances rather than waiting for rates to drop. Compare APRs, not just interest rates, when choosing a lender.

National average mortgage rates are 6.70% for 30-year loans and 5.95% for 15-year loans. Rates vary by location, with expensive areas having higher rates. Excellent credit, a large down payment, and low debt can help you secure a better rate. Rates are not expected to drop significantly soon.



Read more at Yahoo Finance: Getting a good deal in a high-rate environment