Today’s mortgage rates have increased. According to Zillow data, the average 30-year fixed interest rate has risen by two basis points to 6.74%, and the 15-year fixed rate is up five basis points to 6.03% — pushing the 15-year rate over the 6% mark for the first time in well over a week.Economists don’t expect mortgage rates to fall significantly in 2025. January forecasts from both Fannie Mae and the Mortgage Bankers Association (MBA) put the 30-year fixed rate at 6.50% by the end of the year. Holding out for lower rates might not be worth it — if you’re otherwise financially ready to buy, now could be a good time to get started.Dig deeper: 5 strategies for getting the lowest mortgage rateHave 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: 6.74% 20-year fixed: 6.49% 15-year fixed: 6.03% 5/1 ARM: 6.69% 7/1 ARM: 6.74% 30-year VA: 6.17% 15-year VA: 5.66% 5/1 VA: 6.07% 30-year FHA: 6.29% Remember, these are the national averages and rounded to the nearest hundredth.These are today’s mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.75% 20-year fixed: 6.45% 15-year fixed: 6.08% 5/1 ARM: 6.68% 7/1 ARM: 6.64% 30-year VA: 6.16% 15-year VA: 5.89% 5/1 VA: 6.08% 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.Read more: Is now a good time to refinance your mortgage?Use the free Yahoo Finance mortgage calculator to see how various mortgage terms and interest rates will impact your monthly payments.Our calculator also considers factors like property taxes and homeowners insurance when determining your estimated monthly mortgage payment. This gives you a more realistic idea of your total monthly payment than if you just looked at mortgage principal and interest.The average 30-year mortgage rate today is 6.74%. A 30-year term is the most popular type of mortgage because by spreading out your payments over 360 months, your monthly payment is lower than with a shorter-term loan.The average 15-year mortgage rate is 6.03% today. When deciding between a 15-year and a 30-year mortgage, consider your short-term versus long-term goals.A 15-year mortgage comes with a lower interest rate than a 30-year term. This is great in the long run because you’ll pay off your loan 15 years sooner, and that’s 15 fewer years for interest to accumulate. But the trade-off is that your monthly payment will be higher as you pay off the same amount in half the time.Let’s say you get a $300,000 mortgage. With a 30-year term and a 6.74% rate, your monthly payment toward the principal and interest would be about $1,944, and you’d pay $399,768 in interest over the life of your loan — on top of that original $300,000.If you
Gio. Gen 30th, 2025
