From Yahoo Finance: 2025-05-13 06:00:00

Mortgage interest rates have risen today, with the 30-year fixed rate increasing to 6.76% and the 15-year fixed rate to 6.07%. The U.S. and China pausing heightened tariffs for 90 days may have contributed to the slight incline in rates, as uncertainty can lead to higher rates. National averages for various mortgage types are listed, rounded to the nearest hundredth.

Current mortgage refinance rates are slightly higher, with the 30-year fixed rate at 6.84% and the 15-year fixed rate at 6.10%. Refinance rates are typically higher than purchase rates. A mortgage calculator can help determine monthly payments based on different terms and rates. A 15-year mortgage can save on interest in the long run, but monthly payments will be higher.

Economists do not anticipate significant drops in mortgage rates before the end of 2025. The trajectory of future rates will depend on Federal Reserve decisions. The Fed’s rate cuts in 2024 led to rate increases or stability, with future rates hinging on Fed actions in 2025. Mortgage rates are not expected to significantly drop in the coming months.

Today’s 30-year fixed rate for home purchases is at 6.76%, while refinances are at 6.84%. These are national averages, so rates may vary based on location and personal financial factors. While rates may decrease slightly by the end of 2025, drastic decreases are not expected. Any declines will depend on economic factors and Fed decisions.



Read more at Yahoo Finance: Rates inch up in response to tariff pause