From Yahoo Finance: 2025-03-30 06:00:00

Today, mortgage rates have slightly decreased. The 30-year fixed rate is now at 6.59%, down by three basis points, and the 15-year fixed rate is at 5.91%, down by four basis points. Fannie Mae and the Mortgage Bankers Association predict rates to gradually decline throughout the year, with the 30-year fixed rate estimated to be around 6.5% to 6.8% in Q2 2025. If you’re considering buying a house, waiting for lower rates may not yield significant savings. National average rates for different types of mortgages are currently at: 30-year fixed: 6.59%, 20-year fixed: 6.41%, 15-year fixed: 5.91%, and more. Mortgage refinance rates are also provided, with the 30-year fixed rate at 6.55%, 20-year fixed at 6.27%, and 15-year fixed at 5.84%.These rates are national averages and rounded to the nearest hundredth. When choosing between a 15-year and 30-year mortgage, consider your short-term versus long-term goals. With a 30-year mortgage, your monthly payments are lower but you pay more interest over time. On the other hand, a 15-year mortgage has higher monthly payments but less interest paid overall. Fixed-rate mortgages lock in your rate for the entire loan term, while adjustable-rate mortgages have a fixed rate for a certain period before adjusting annually. Mortgage lenders offer the lowest rates to those with higher down payments, great credit scores, and low debt-to-income ratios. Waiting for rates to drop significantly may not be the best strategy to get a lower rate. To find the best mortgage lender, apply for preapproval with multiple companies and compare not just interest rates, but also the APR, which reflects the true annual cost of borrowing money. National average rates for 30-year and 15-year mortgages are 6.59% and 5.91%, respectively. However, rates can vary by location, typically higher in expensive areas and lower in less expensive areas. Aim for an excellent credit score, sizable down payment, and low debt-to-income ratio to potentially secure a better rate.



Read more at Yahoo Finance: Rates should stay high this year