Marco Santarelli

JUNE 2, 2025

Current Mortgage Rate Overview For individuals looking to purchase a home, understanding the different types of mortgage interest rates available is essential. The most common types are fixed-rate mortgages and adjustable-rate mortgages (ARMs).

Mortgages

Norada Real Estate

JUNE 8, 2025

However, potential refinancers must weigh the benefits of lower rates against closing costs and any potential changes in loan terms. Understanding Mortgage Rates To determine the best mortgage for your situation, it’s essential to differentiate between fixed-rate and adjustable-rate mortgages (ARMs).

Debt-to-income ratio

Redfin

JULY 31, 2025

Additionally, set aside extra savings for closing costs, moving expenses, and any home updates or repairs you may need right away. If you shop around first, you could end up with a lower interest rate and better terms. Compare interest rates, closing costs, and loan terms carefully.

VA loan

Redfin

APRIL 11, 2025

But the national average and the cost of houses for sale in your area can look drastically different. When you pay your mortgage each month, the payments go toward a tangible asset rather than a landlord. Homeowners might also get some tax breaks for mortgage interest and property taxes, which can save you some money.

Marketing

Marco Santarelli

JUNE 12, 2025

National Average Mortgage Rates Loan Type Current Rate Change from Last Week APR APR Change 30-Year Fixed 6.91% -0.08% 7.34% -0.11% 15-Year Fixed 5.97% -0.03% 6.25% -0.11% 5-Year ARM 7.30% No change 7.83% -0.17% Key Observations: The national average for 30-year fixed-rate mortgages fell slightly from 6.99% last week to 6.91%.

Mortgages

Marco Santarelli

JANUARY 25, 2025

There still aren't many houses for sale, though, which keeps prices supported. 30-year fixed (6.75%): If your main goal is to have consistent payments that wont change, this is a pretty safe bet. Adjustable-Rate Mortgages (ARMs): These loans have rates that are fixed for an initial period but then adjust based on market conditions.

Mortgages

Marco Santarelli

FEBRUARY 21, 2025

They're hesitant to sell and buy a new home at a higher rate, which keeps inventory low and puts upward pressure on prices. Home Sales Will Be Lower : Due to the lock-in effect and affordability challenges, Fannie Mae expects total home sales to be lower than previously forecast, at 4.89 30-Year Mortgage Rate N/A 6.5%

Mortgages

Marco Santarelli

APRIL 27, 2025

Sales Are Slowing Down: According to the NAR data from April 24, 2025, reporting on March sales, existing-home sales slipped by 5.9% from February, hitting a seasonally adjusted annual rate of 4.02 Year-over-year, sales were down 2.4% When sales are slow, the market isn't as frenzied. from March 2024.

Finance

Marco Santarelli

MARCH 31, 2025

This rate environment makes careful shopping and understanding your loan options even more critical. Fixed-rate mortgages (like the 15-year, 20-year, and 30-year options) keep the same interest rate for the entire loan term. This isn't always the case; sometimes refi rates are noticeably higher.

Mortgages

Redfin

AUGUST 5, 2025

Closing costs still apply: Closing costs don’t only apply to mortgages. You need to pay your share of the closing costs in addition to buying the house with cash. Cash due at closing: Once the deal is ready to be finalized, you will need to bring a certified check or cashier’s check to closing.

Earnest money deposit

Marco Santarelli

MAY 22, 2025

This difference often arises from closing costs associated with refinancing, which can vary significantly among lenders. Homeowners must weigh these considerations when deciding whether to refinance their mortgage, keeping in mind how current interest rates impact the overall financial landscape.

Mortgages

Norada Real Estate

JUNE 7, 2025

National Association of REALTORS®: Their forecast suggests that mortgage rates will average 6.4% They also anticipate increases in both existing and new home sales. Fannie Mae: Their outlook is similar, predicting mortgage rates to end 2025 at 6.1% They've also revised their home sales outlook for 2025 upwards.

Mortgages

Norada Real Estate

MAY 22, 2025

This difference often arises from closing costs associated with refinancing, which can vary significantly among lenders. Homeowners must weigh these considerations when deciding whether to refinance their mortgage, keeping in mind how current interest rates impact the overall financial landscape.

Mortgages

Marco Santarelli

APRIL 5, 2025

Mortgage rates, particularly for 30-year fixed-rate mortgages, often follow the trend of these Treasury yields. So, as tariffs and trade concerns create economic uncertainty, pushing investors towards bonds, we often see a corresponding decrease in mortgage rates. Are prices still rising rapidly?

Mortgages

Marco Santarelli

JUNE 4, 2025

Several factors influence these rates daily, and even small fluctuations can impact your monthly payments and the overall cost of your loan over time. According to data released by Zillow , as of Wednesday, June 4, 2025, the national average for a 30-year fixed-rate mortgage has edged up. by the end of the year.

Loans

Marco Santarelli

APRIL 8, 2025

Today's mortgage rates, as of April 8, 2025 , show an average of approximately 6.50% for a 30-year fixed-rate mortgage. This figure reflects a slight decrease in rates following recent political news but remains susceptible to fluctuations due to inflationary pressures.

Mortgages

Marco Santarelli

FEBRUARY 15, 2025

Sturtevant also emphasizes that “It will be very hard for the headline inflation number to reach the Feds 2% goal without a slowdown in housing costs. More housing supplyboth rental and for-sale housingis the key to easing housing costs and bringing the overall rate of inflation down.

Mortgages

Housing Wire

AUGUST 10, 2023

Mortgage , and/or Closing Cost Credit. For eligible borrowers at or below 80% AMI, the mortgage program allows a 3% down payment on a fixed-rate mortgage and the closing cost credit program provides up to $5,000 to use toward closing costs.

Fixed-rate mortgage

Housing Wire

SEPTEMBER 16, 2022

UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.

Mortgages

Housing Wire

APRIL 27, 2023

. “The 30-year fixed-rate mortgage increased modestly for the second straight week, but with the rate of inflation decelerating, rates should gently decline over the course of 2023,” Sam Khater , Freddie Mac’s chief economist, said in a statement. under the previous policy.

Mortgages

HomeLight

MAY 31, 2022

During the pandemic years, plunging interest rates were counter-balanced by rising home sales. Census Bureau and the Department of Housing and Urban Development (HUD), new home sales fell 16.6% Interest rates on 30-year fixed-rate mortgages reached their highest since April 2020. According to the U.S.

Seller concession

HomeLight

AUGUST 26, 2020

Lower mortgage rates and lower payments are excellent reasons to refinance, but there are other reasons someone might want to consider refinancing. Converting an adjustable-rate mortgage to a fixed-rate mortgage. Use the equity in your home. Having a refinance appraisal is in your best interest.

Fixed-rate mortgage

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. And there are plenty out there: adjustable-rate mortgages, interest-only mortgages, 2-1 buydowns.

Fixed-rate mortgage

Marco Santarelli

APRIL 12, 2024

The average 30-year fixed mortgage rate has remained below 7% in 2024 , with expectations of a gradual decrease over the year, assuming the Federal Reserve implements anticipated interest rate cuts. However, it's important to consider closing costs and how long you plan to stay in your home before making this decision.

Mortgages

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. And there are plenty out there: adjustable-rate mortgages, interest-only mortgages, 2-1 buydowns.

Fixed-rate mortgage

Realty Biz

MARCH 5, 2021

For a lot of people, even saving up enough to cover a down-payment and closing costs is a daunting financial task. The NHF provides eligible homebuyers with up to 5% of their mortgage amount to help cover the down payment and closing costs. The second mortgage must be repaid in full upon sale or refinance.

Closing costs

HomeLight

JANUARY 23, 2023

In 2022 alone, the Federal Reserve raised interest rates seven times to try to bring inflation down. Meanwhile, Freddie Mac reports the average interest rate on a 30-year fixed-rate mortgage is 6.27% as of early 2023 — up 3.22 Forbes reports the average 30-year fixed refinance rate to be even higher at about 6.84%.

Mortgages

Real Trends

NOVEMBER 7, 2022

To incentivize homeownership, the government offers a mortgage interest tax deduction. Let’s say you get a 30-year fixed-rate mortgage of $350,000 with a 6.5% interest rate to buy a condo. Your payment for principal and interest would be close to $2,200 a month or $26,400 a year. Hedging against inflation.

Fixed-rate mortgage

Realty Biz

JUNE 11, 2023

Buy Now: If you're considering purchasing a home in the near future and interest rates are low, it may be beneficial to buy now rather than wait. Remember, interest rates can change rapidly and unpredictably. Consider a Fixed Rate Mortgage: With a fixed-rate mortgage, the interest rate remains the same for the entire loan term.

Fixed-rate mortgage

Realty Biz

AUGUST 12, 2023

Interest : The cost of borrowing money, expressed as a percentage of the loan amount. Fixed-Rate Mortgage : A mortgage in which the interest rate remains the same for the entire term of the loan. Closing Costs : Fees and other costs that need to be paid when closing on a house.

Purchase and sale agreement

HomeLight

NOVEMBER 29, 2021

Plus, down payment and closing costs in New Jersey can set you back thousands of dollars. William Hagan , a New Jersey agent who typically sells homes more than 40% faster than the average agent in his area, warns that even a 20% down payment may not be enough to win a bidding war in the 2021 sales market. “In Homeowners taxes.

Land

Realty Biz

NOVEMBER 12, 2022

In August 2021, the average 30-year interest rate for a fixed-rate mortgage was 2.7 Since then, the average interest rate has gone up four percentage points; someone trying to purchase a house today might be looking at a 30-year fixed-rate mortgage of nearly seven percent.

Fixed-rate mortgage

The Close

DECEMBER 5, 2024

These factors—purchase, rehab, carrying, and marketing and sales costs—will affect the total return on investment earned when selling the property to a new owner. Read along to learn how much it would cost to flip a house. Your real estate agent and the lender will break down your closing costs in a closing disclosure form.

House Flipping

HomeLight

SEPTEMBER 13, 2021

For example, a homeowner with a goal to pay off their loan as quickly as possible could benefit by refinancing from a 30-year mortgage to a 15-year term, even if the monthly payment increases. It’s all about what the borrower is trying to achieve,” comments Richie Helali, HomeLight’s Mortgage Sales Lead.

Mortgages

Redfin

SEPTEMBER 4, 2024

From application fees to closing costs, this Redfin article will discuss everything you need to know to help make this financial decision. What does it mean to refinance a mortgage? What exactly does it mean to “refinance a mortgage”? Learn more about today’s mortgage rates. the short answer is, “It depends.”

Mortgages

HomeLight

MARCH 22, 2022

All in all, North Carolina is homebuyer-friendly compared to the national median of a single-family home sale at $353,600 in 2021. “I This fee signals to the seller that you are a credible and worthy buyer who is on the brink of finalizing the sale. What about closing costs? NC Home Advantage Mortgage.

Due diligence

Realty Biz

MARCH 15, 2023

Limited Availability While more homes are available for sale than last year, fewer homes are available than expected in a balanced market. Mortgage Rates Interest rates had stayed low for a long time but began rising last year. For a 30-year fixed-rate mortgage, interest rates have averaged between 6% and 7% recently.

Debt-to-income ratio