Mortgage rates rose to their highest level in nearly six months. According to Zillow’s lender marketplace, the current 30-year fixed rate is 6.31%we are up 13 points from Friday. The 30-year rate has not been this high since late September. Meanwhile, the 15-year fixed rate rose by three basis points 5.77%.
Here are the current mortgage rates, according to the latest Zillow data:
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30 years fixed: 6.31%
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20 years fixed: 6.29%
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15 years fixed: 5.77%
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5/1 ARM: 6.36%
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7/1 ARM: 6.34%
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VA for 30 years: 5.85%
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15 year VA: 5.47%
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5/1 VA: 5.39%
Remember, these are national averages and rounded to the nearest hundredth.
Discover 8 strategies for getting the lowest mortgage rates.
Here are today’s mortgage rates, according to the latest Zillow data:
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30 years fixed: 6.44%
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20 years fixed: 6.41%
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15 years fixed: 6.00%
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5/1 ARM: 6.66%
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7/1 ARM: 6.71%
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VA for 30 years: 6.04%
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15 year VA: 5.60%
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5/1 VA: 5.32%
Also, the numbers given are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than home buying rates, although not always.
Use the mortgage calculator below to see how today’s interest rates will affect your monthly mortgage payments.
You can bookmark Yahoo Finance’s down payment calculator and keep it handy for future use, as you shop for homes and lenders. You also have the option to include the cost of private mortgage insurance (PMI) and homeowner association fees, if applicable. This information results in a more accurate monthly payment estimate than if you simply calculated the loan principal and interest.
There are two main advantages of a 30-year fixed mortgage: Your payments are low, and your monthly payments are predictable.
A 30-year fixed-rate loan has lower monthly payments because you’re spreading your payment over a longer period of time than, say, a 15-year loan. Your payments are predictable because, unlike an adjustable-rate mortgage (ARM), your rate won’t change from year to year. For many years, the only things that may affect your monthly payment are any changes in homeowners insurance or property taxes.
The main disadvantage of 30-year mortgage rates is the interest on the mortgage, both short-term and long-term.
A 30-year fixed term comes with a higher rate than a shorter fixed term, and is higher than the introductory rate of a 30-year ARM. The higher your rate, the higher your monthly payment. You will also pay more interest over the life of your loan because of the higher rate and longer term.
The pros and cons of 15-year mortgage rates are basically interchangeable with those of 30-year rates. Yes, your monthly payments will still be predictable, but another benefit is that shorter terms come with lower interest rates. Not to mention you will be paying off your mortgage in 15 years soon. So you will save hundreds of thousands of dollars in interest over the life of your loan.
However, because you pay the same amount for half the term, your monthly payments will be higher if you choose a 30-year term.
Adjustable rate mortgages lock in your rate for a fixed period of time, then change it periodically. For example, with a 5/1 ARM, your rate stays the same for the first five years and then goes up or down once a year for the remaining 25 years.
The big advantage is that the introductory rate is usually lower than what you would get with a 30-year fixed rate, so your monthly payments will be lower. (Current average rates may not reflect this, though – in some cases, fixed rates are actually lower. Talk to your lender before deciding between a fixed or adjustable rate.)
With an ARM, you have no idea what the mortgage rates will be once the introductory period is over, so you run the risk of the rate going up over time. This can ultimately end up being more expensive, and your monthly payments are not predictable from year to year.
But if you plan to move before the intro-rate period ends, you can reap the benefits of a lower rate without risking rate hikes down the road.
First, now is a good time to buy a house compared to a few years ago. Home prices are not increasing as they were during the height of the COVID-19 pandemic. So, if you want or need to buy a house soon, you should feel good about the current housing market.
Mortgage rates have also fallen since this time last year.
The best time to buy is usually when it makes sense for your stage of life. Trying to time the real estate market can be as futile as timing the stock market – buy when the time is right for you.
According to Zillow, the national average for a 30-year mortgage is currently 6.31%. Why do Zillow prices tend to be different than those reported by Freddie Mac (which reported 6.22% this week) and elsewhere? Each source aggregates values in different ways. Zillow gets prices from its lender marketplace, and Freddie Mac pulls the information from loan applications submitted to its underwriting system. However, mortgage rates vary by state and even ZIP code, lender, loan type, and many other factors. That’s why it’s so important to shop around from multiple mortgage lenders.
Are interest rates expected to drop?
According to February forecasts, the MBA expects the 30-year mortgage rate to approach 6.10% by 2026. Fannie Mae is also forecasting a 30-year rate near 6% by the end of the year.
Mortgage rates fell steadily from the end of May last year until the start of the Middle East war this year. The 30-year fixed rate rose to more than 7% in January 2025, then moved up and down for months. On May 29 2025, the 30-year rate was 6.89%, and it began to decline gradually. After a three-year low in February, prices started to rise in March.
In many ways, getting a low rate mortgage refinance is the same as when you buy your home. Try to improve your credit score and lower your debt-to-income (DTI) ratio. Refinancing for a shorter period of time will also give you a lower rate, although your monthly mortgage payments will be higher.
