Most of today’s mortgage rates have remained stagnant. According to Zillow, both the 30-year and 15-year fixed interest rates haven’t budged and sit at 6.67% and 5.95%, respectively.Unless there is a severe financial setback, 30-year mortgage rates might be stuck in the 6.5%-to-7% range for a while. Do you have the down payment in the bank and feel ready to buy? Then you might want to start house hunting now.Have questions about buying, owning, or selling a house? Submit your question to Yahoo’s panel of Realtors using this Google form. Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.67% 20-year fixed: 6.44% 15-year fixed: 5.95% 5/1 ARM: 6.66% 7/1 ARM: 6.81% 30-year VA: 6.12% 15-year VA: 5.55% 5/1 VA: 6.12% 30-year FHA: 6.29% Remember, these are the national averages and rounded to the nearest hundredth.Learn more: Here’s how mortgage rates are determinedThese are today’s mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.73% 20-year fixed: 6.33% 15-year fixed: 6.00% 5/1 ARM: 6.63% 7/1 ARM: 6.72% 30-year VA: 6.12% 15-year VA: 5.82% 5/1 VA: 6.06% Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that’s not always the case. Use Yahoo Finance’s free mortgage calculator to see how various interest rates and term lengths will impact your monthly mortgage payment. It also shows how the home price and down payment amount play into things.Our calculator includes homeowners insurance and property taxes in your monthly payment estimate. You even have the option to enter costs for private mortgage insurance (PMI) and homeowners’ association dues if those apply to you. These details result in a more accurate monthly payment estimate than if you simply calculated your mortgage principal and interest.There are two main advantages to a 30-year fixed mortgage: Your payments are lower, and your monthly payments are predictable.A 30-year fixed-rate mortgage has relatively low monthly payments because you’re spreading your repayment out over a longer period of time than with, say, a 15-year mortgage. Your payments are predictable because, unlike with an adjustable-rate mortgage (ARM), your rate isn’t going to change from year to year. Most years, the only things that might affect your monthly payment are any changes to your homeowners insurance or property taxes.The main disadvantage to 30-year fixed mortgage rates is mortgage interest — both in the short and long term.A 30-year fixed term comes with a higher rate than a shorter fixed term, and it’s higher than the intro rate to a 30-year ARM. The higher your rate, the higher your monthly payment. You’ll also pay much more in interest over the life of your loan due to both the higher rate and the longer term.The pros and cons of 15-year fixed mortgage rates are basically swapped from the 30-year rates.
Mer. Gen 22nd, 2025
