Summary: Mortgage rates hold steady with 30-year fixed at 6.59% and 15-year fixed at 5.81%

Today’s mortgage rates have slightly increased, with the average 30-year fixed rate at 6.59% and the 15-year fixed rate at 5.81%. Stable rates are beneficial for buyers looking to lock in a rate amidst the volatile housing market in 2025. National averages show a range of mortgage rates, with refinancing rates typically higher.

A 30-year fixed mortgage offers lower and predictable monthly payments, while higher interest rates are a drawback. In contrast, a 15-year fixed rate provides lower interest rates and quicker mortgage payoff but higher monthly payments. Adjustable-rate mortgages offer lower introductory rates but higher uncertainty in the long term.

Now is a relatively good time to buy a house, with home prices stabilizing. Mortgage rates remain high due to the political and economic climate, but experts predict a slight decrease in rates. Timing the real estate market is challenging, so buy when it suits your needs. Overall, mortgage rates are expected to lower slightly in 2025.

Read more at Yahoo Finance: Mortgage and refinance interest rates today, July 5, 2025: Rates hold steady