Current Trends in Mortgage Rates: A Brief Overview

Today has seen slight fluctuations in mortgage rates, with some rates dipping and others nudging upward, but the changes remain subtle overall. Zillow reports that the average rate for a 30-year fixed loan has decreased slightly by one basis point to 6.26%, while the 15-year fixed rate has inched up by one basis point to 5.58%.

For the past two weeks, interest rates have seen a downward trend. At this stable juncture, it might be an opportune moment to seek preapproval from mortgage lenders.

Here are today’s mortgage rates: - 30-year fixed: 6.26% - 20-year fixed: 5.94% - 15-year fixed: 5.58% - 5/1 ARM: 6.15% - 7/1 ARM: 6.21% - 30-year VA: 5.72% - 15-year VA: 5.24% - 5/1 VA: 5.89%

Today’s mortgage refinance rates are as follows: - 30-year fixed: 6.30% - 20-year fixed: 5.92% - 15-year fixed: 5.59% - 5/1 ARM: 6.24% - 7/1 ARM: 6.55% - 30-year VA: 5.73% - 15-year VA: 5.43% - 5/1 VA: 5.91% - 30-year FHA: 5.96% - 15-year FHA: 5.24%

Although mortgage rates have been declining over the last couple of weeks, today sees them leveling out. Economists predict that we shouldn’t anticipate any significant decreases before the conclusion of 2025.