Marco Santarelli

MARCH 7, 2025

How Mortgage Interest Rates Work Simply put, a mortgage interest rate is the fee lenders charge for borrowing money, expressed as a percentage. There are two primary types of rates: Fixed-Rate Mortgages : The interest rate remains the same throughout the life of the loan.

Mortgages

Marco Santarelli

DECEMBER 31, 2024

Current Mortgage Rates Heres a closer look at todays mortgage rates for various types of mortgages, which may help guide your decision-making process: Purchase Mortgage Rates Mortgage Type Interest Rate Change 30-Year Fixed 6.64% -0.08 20-Year Fixed 6.48% -0.10

Mortgages

Marco Santarelli

DECEMBER 29, 2024

Technological Advancements in Lending Moreover, technological advancements in the lending industry could alter the dynamics of mortgage rates. Online lenders and alternative financing options may lead to increased competition, ultimately benefiting borrowers through more competitive rates and flexible terms.

Mortgages

Marco Santarelli

DECEMBER 20, 2024

Adjustable-Rate Mortgage (ARM) concerns : If you have an ARM, the interest rate can change over time, potentially increasing your monthly payments. Refinancing to a fixed-rate mortgage provides stability and predictability. Interest rates can have a significant impact on your monthly mortgage payment.

Mortgages

Marco Santarelli

JULY 8, 2025

The big question is: what have mortgage rates trends over the past year looked like? According to the Primary Mortgage Market Survey® by Freddie Mac , as of July 3rd, 2025, the average 30-year fixed-rate mortgage sits at 6.67% , while the 15-year fixed rate is at 5.80%. Let's dive in.

Fixed-rate mortgage

Marco Santarelli

DECEMBER 27, 2024

Generally, a mortgage interest rate represents the cost to borrow money expressed as a percentage. Borrowers can select between fixed-rate mortgages and adjustable-rate mortgages (ARMs).

Fixed-rate mortgage

Marco Santarelli

DECEMBER 21, 2024

Mortgage Rates This Week: Not Much Movement Let's look at the recent numbers to understand where we stand. Here's what Freddie Mac reported for the week ending December 19: 30-year fixed-rate mortgages: Averaged 6.72% , up from 6.60% the previous week. Last year at this time, it was 6.67%.

Sales

Marco Santarelli

OCTOBER 26, 2024

As of October 24, 2024, mortgage rates have climbed north of 6.5% The average 30-year fixed-rate mortgage now sits at 6.54% , a slight rise from 6.44% the previous week, reflecting a prevailing trend of increasing rates that have now persisted for four consecutive weeks.

Fixed-rate mortgage

Norada Real Estate

JUNE 29, 2025

After that, the rate can change, typically annually, based on the market's performance, usually tied to indexes like the Secured Overnight Financing Rate, SOFR. Lower Initial Interest Rates: ARMs often start with lower interest rates than fixed-rate mortgages. Why Are ARMs Attractive?

Fixed-rate mortgage

Marco Santarelli

DECEMBER 29, 2024

Generally, a down payment of 20% or more can help you avoid private mortgage insurance (PMI), further saving you money in the long term. Loan Amount: The size of the mortgage and how it compares to the property's value can also impact your rate. Mortgage FAQ What influences current mortgage rates?

Mortgages

Marco Santarelli

APRIL 16, 2025

Today's Mortgage Rates April 16, 2025: Big Drop in Rates as Treasury Yields Fall Key Takeaways Mortgage rates for April 16, 2025, have fallen substantially from last week. 30-Year fixed-rate mortgage now averages 6.78% , an eight basis-point drop.

Fixed-rate mortgage

Marco Santarelli

DECEMBER 22, 2024

However, this reflects a notable 29 basis point increase compared to last week when rates were at 6.42% ( Zillow ). Understanding these rates and how they can impact your financial decisions is crucial as you navigate your home financing options.

Mortgages

Marco Santarelli

JULY 14, 2025

While a small dip in rates is generally positive, it's important to remember that ARMs come with their own set of considerations. What is an Adjustable Rate Mortgage (ARM)? Lower Initial Rate: ARMs often start with a lower interest rate than fixed-rate mortgages. Why the Initial Attraction?

Fixed-rate mortgage

Marco Santarelli

MAY 8, 2025

According to the latest data from Zillow, today's mortgage rates show a decrease across various loan types, with the widely popular 30-year fixed-rate mortgage averaging 6.69% , a notable 10 basis points lower than the previous day. A 30-year fixed-rate mortgage is often favored for its lower monthly payments.

Fixed-rate mortgage

Eye on Housing

NOVEMBER 6, 2024

In October, mortgage rates reversed their recent downward trajectory, returning to levels two months earlier. According to Freddie Mac, the average rate for a 30-year fixed-rate mortgage increased 25 basis points (bps) from September to 6.18%. These increases coincided.

Fixed-rate mortgage

Marco Santarelli

DECEMBER 26, 2024

If you're considering buying a new home or refinancing your current mortgage, understanding today's mortgage rates is crucial. The cost of borrowing can significantly impact your finances, and staying informed helps you make better decisions. – Higher interest rates lead to more paid interest over time.

Mortgages

Marco Santarelli

JANUARY 12, 2025

Adjustable Rate Mortgages When exploring mortgage rates , one crucial decision homebuyers face is whether to go with a fixed-rate or an adjustable-rate mortgage (ARM). Fixed-Rate Mortgages : These loans offer a consistent interest rate over the entire loan term.

Mortgages

Marco Santarelli

JANUARY 1, 2025

Understanding Mortgage Rates Mortgage rates are the interest rates that lenders charge on home loans. These rates can be classified as fixed-rate or adjustable-rate (ARM). Understanding how today's rates translate into real costs is vital for anyone looking to secure financing.

Mortgages

Marco Santarelli

DECEMBER 27, 2024

A basis point is essentially one-hundredth of a percentage point, making this increase a substantial leap for borrowers looking for stable financing options. For 15-year fixed-rate mortgages , the average now stands at 6% , which is an increase from 5.92% just days prior.

Mortgages

Marco Santarelli

JANUARY 25, 2025

Thus, larger down payments typically secure better rates. Loan Type and Structure Fixed-rate mortgages tend to have higher initial rates than adjustable-rate mortgages (ARMs), but they provide stability against future rate hikes. Whats Next?

Mortgages

Marco Santarelli

DECEMBER 21, 2024

Analysis of Mortgage Types Understanding the different types of mortgages available is crucial as they have varied implications on your financial future. 30-Year Fixed Mortgages The 30-year fixed-rate mortgage remains the most popular choice among homebuyers.

Mortgages

Marco Santarelli

MARCH 14, 2025

Understanding How Mortgage Interest Rates Work Mortgage interest rates are essentially the cost of borrowing money to buy a home, expressed as a percentage. You'll encounter two primary types of rates: fixed and adjustable. Fixed-Rate Mortgages: These offer stability. 5 or 7 years).

Fixed-rate mortgage

Eye on Housing

FEBRUARY 27, 2025

Mortgage rates declined marginally in February, with the average 30-year fixed-rate mortgage falling to 6.84%. After climbing steadily since December and peaking at 7.04% in mid-January, rates have been trending downward.

Fixed-rate mortgage

Marco Santarelli

JANUARY 11, 2025

What to Expect for Mortgage Rates in 2025 Looking ahead, the projections for mortgage rates in 2025 indicate that the situation might not change dramatically. Goldman Sachs Above 6% These figures reveal a consensus among economists and financial institutions that mortgage rates will likely remain above 6% throughout 2025.

Mortgages

Marco Santarelli

MARCH 15, 2025

Current Mortgage Rates on March 15, 2025 The latest figures indicate a general increase in mortgage rates. Here's a quick rundown of some common options: 30-Year Fixed-Rate Mortgage: This is a very common choice because it provides predictable monthly payments over a long period, making it easier to budget.

Mortgages

Marco Santarelli

JULY 12, 2025

Understanding Adjustable Rate Mortgages (ARMs) Before diving deeper into the implications of the 5-year ARM rate , it's good to know what exactly an ARM loan is. Unlike fixed-rate mortgages where your interest rate stays the same for the life of the loan, ARMs have an interest rate that adjusts periodically.

Fixed-rate mortgage

Marco Santarelli

APRIL 7, 2025

Heres a look at the characteristics of each option and how they are priced currently: Fixed-Rate Mortgages : These loans have a constant interest rate throughout the life of the loan, providing the borrower with predictable monthly payments. As of today, the average 30-year fixed-rate mortgage is at 6.39%.

Mortgages

Marco Santarelli

MAY 27, 2025

This tax information plays a crucial role as it is expected to add trillions to the national deficit, leading to potential fluctuations in interest rates. Historically, when government spending increases, it can create upward pressure on mortgage rates, which may leave homebuyers and homeowners feeling anxious about their financing options.

Mortgages

Marco Santarelli

APRIL 22, 2025

Current Rates Breakdown Mortgage Type Current Rate 30-Year Fixed 6.81% 20-Year Fixed 6.63% 15-Year Fixed 6.10% 5/1 ARM 7.08% 7/1 ARM 7.46% 30-Year VA 6.39% 15-Year VA 5.80% 5/1 VA 6.28% Source: Zillow These numbers reflect the national average and are rounded to the nearest hundredth.

Mortgages

HomeLight

JANUARY 31, 2025

Fixed-rate mortgages are the most popular mortgages on the market, but they may not be right for every homebuyer in every situation. Adjustable-rate mortgage loans (ARMs) offer options for borrowers who would benefit from a different approach to financing their mortgage due to specific life events or financial situations.

Loans

Marco Santarelli

MARCH 16, 2025

Breaking Down Today's Mortgage Rates Loan Type Interest Rate 30-Year Fixed 6.59% 20-Year Fixed 6.45% 15-Year Fixed 5.93% 5/1 ARM 6.85% 7/1 ARM 7.13% 30-Year VA 6.15% 15-Year VA 5.59% 5/1 VA 6.15% As you can see, the 30-year fixed-rate mortgage the most common choice for homebuyers is currently averaging 6.59%.

Mortgages

Marco Santarelli

APRIL 1, 2025

For the benchmark 30-year fixed-rate mortgage , we're looking at an average of 6.55%. Now, four basis points might sound small, but in the world of mortgages, every little bit counts. Now, four basis points might sound small, but in the world of mortgages, every little bit counts. Let's dive into the specifics.

Fixed-rate mortgage

The Living Room

JUNE 25, 2025

Predictable Monthly Costs Fixed-rate mortgages offer consistent monthly payments. Predictability gives you control over your finances and long-term planning. Tax Benefits Homeowners may deduct mortgage interest and property taxes, reducing taxable income. That means no more surprise rent increases.

Fixed-rate mortgage

Marco Santarelli

DECEMBER 22, 2024

Adjustable Rates When considering the right mortgage type , borrowers frequently weigh fixed-rate mortgages against adjustable-rate mortgages (ARMs). Fixed-Rate Mortgages: These loans offer stability by locking in the interest rate for the entire duration of the mortgage (typically 15-30 years).

Mortgages

Marco Santarelli

NOVEMBER 29, 2024

After extremely low rates during the pandemic, we've seen a significant increase, primarily driven by rising inflation and the Federal Reserve's efforts to manage it. As of late 2024, the average rate for a 30-year fixed-rate mortgage is around 6.78%.

Mortgages

Marco Santarelli

JULY 12, 2025

The Current State of Mortgage Rates As of July 10, 2025 , here’s where we stand: 30-Year Fixed Rate Mortgage (FRM): Averaging 6.72% 15-Year FRM: Averaging 5.86% These numbers, per Freddie Mac, paint a clear picture. Let’s get a grasp on the current situation, review the trends, and see what experts are thinking.

Mortgages

Marco Santarelli

MAY 6, 2025

Why Are ARM Rates Important? The interest rate on your mortgage is a big deal. ARM Loan Requirements Lenders typically have stricter requirements for ARMs than for fixed-rate mortgages. This is because they need to assess your ability to repay the loan if the interest rate goes up.

Mortgages