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). Lets explore how the current 7.01% mortgage rate affects a common loan amount, like $340,000.

Mortgages

Marco Santarelli

DECEMBER 26, 2024

To grasp the concept of mortgage rates, it's important to note that these rates represent a fee for borrowing money, expressed as a percentage. There are mainly two types of mortgage rates: Type Description Fixed-Rate Mortgages A fixed-rate mortgage maintains the same interest rate for the entire loan duration.

Mortgages

Marco Santarelli

MARCH 13, 2025

Types of Mortgage Rates There are two main types of mortgage rates: Fixed-Rate Mortgages : These lock in your interest rate for the entirety of your loan period, making your monthly payments predictable and consistent.

Mortgages

Marco Santarelli

MARCH 11, 2025

Exploring the Mortgage Options While traditional fixed-rate mortgages are often the go-to choice for many buyers, there are various mortgage products available to meet different financial needs. Monthly Payment on $150,000 Mortgage Estimated Monthly Payment: $934.56

Fixed-rate mortgage

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

Marco Santarelli

NOVEMBER 1, 2024

Borrowers should expect to pay $658.60 in principal and interest for every $100,000 borrowed. Factors Influencing Today's Mortgage Rates The rise in today's mortgage rates is influenced by several key factors, including: Federal Reserve Decisions : Recently, the Federal Reserve cut interest rates by half a point.

Mortgages

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

MAY 3, 2025

Are you thinking about buying a home, or perhaps refinancing your current mortgage? The news you've been waiting for is here: mortgage rates are continuing their downward trend. As of May 1, 2025, the 30-year fixed-rate mortgage has dipped to 6.76% , a welcome change compared to the earlier part of the year.

Debt-to-income ratio

Marco Santarelli

APRIL 22, 2025

Adjustable-Rate Mortgages Understanding the distinction between fixed-rate and adjustable-rate mortgages is essential for prospective buyers. Fixed-Rate Mortgages : These mortgages offer the security of locked-in interest rates from the outset.

Mortgages

Marco Santarelli

APRIL 2, 2025

Let's look at the specifics for today's mortgage rates: Loan Type Rate 30-Year Fixed 6.50% 20-Year Fixed 6.18% 15-Year Fixed 5.86% 5/1 ARM 6.60% 7/1 ARM 6.38% 30-Year VA 6.06% 15-Year VA 5.62% 5/1 VA 6.07% 30-Year FHA 5.95% 5/1 FHA 5.69% As you can see, the benchmark 30-year fixed-rate mortgage is averaging 6.50% nationally.

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

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

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. Seeing the rates is one thing, but understanding what they mean for your wallet is crucial.

Mortgages

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

Marco Santarelli

MARCH 17, 2025

The rate you personally qualify for can vary based on factors like your credit score, down payment amount, the type of property you're buying, and even where you live. The Popular 30-Year Fixed-Rate Mortgage The 30-year fixed-rate mortgage is still the most common choice for homebuyers, and for good reason.

Mortgages

HomeLight

JULY 29, 2025

According to the latest data from Mortgage Bankers Association, the national median monthly mortgage payment in the U.S. This figure includes principal and interest based on current loan application data and assumes a 30-year fixed-rate mortgage.

Mortgages

Norada Real Estate

APRIL 19, 2025

What This Means for Homebuyers and Homeowners For potential homebuyers, rising mortgage rates may complicate the affordability landscape. Higher rates typically lead to increased monthly payments. If the rate were to increase further, payments would rise accordingly, making homeownership less accessible.

Mortgages

Marco Santarelli

APRIL 19, 2025

What This Means for Homebuyers and Homeowners For potential homebuyers, rising mortgage rates may complicate the affordability landscape. Higher rates typically lead to increased monthly payments. If the rate were to increase further, payments would rise accordingly, making homeownership less accessible.

Mortgages

Marco Santarelli

DECEMBER 11, 2024

Below, we explore two of the most common mortgage types: 30-year fixed mortgages and 15-year fixed mortgages , along with adjustable-rate mortgages (ARMs).

Mortgages

Marco Santarelli

MARCH 27, 2025

Understanding How Mortgage Rates Function At its core, a mortgage interest rate is the cost you pay for the privilege of borrowing money from a lender. This cost is expressed as a percentage of the loan amount and can be structured in two primary ways: fixed-rate and adjustable-rate.

Mortgages

Redfin

JULY 30, 2025

A shorter mortgage term will result in a higher monthly payment since you’ll be paying off the principal balance faster. With a longer mortgage term, you’ll have a lower monthly payment because the principal is stretched over more years. What’s the difference between a fixed-rate mortgage and adjustable-rate mortgage?

Pre-approval

Marco Santarelli

APRIL 27, 2025

Fixed-Rate vs. Adjustable-Rate Mortgages When considering mortgage options, understanding the difference between fixed-rate and adjustable-rate mortgages (ARMs) is crucial. For example, a 30-year fixed loan at 6.71% ensures that your rate is locked in and will not fluctuate.

Mortgages

Marco Santarelli

MARCH 20, 2025

30-Year Fixed: This remains a popular choice for many homebuyers due to its lower monthly payments , making homeownership more accessible. The Purchase Rate vs. Refinance Rate Dynamic: It's not uncommon for refinance rates to be slightly higher than purchase rates. Important Note: These are illustrative examples.

Mortgages

Marco Santarelli

APRIL 12, 2025

Adjustable Rates When considering mortgage options, many face the choice between fixed-rate and adjustable-rate mortgages (ARMs). Fixed-Rate Mortgages Pros: Consistency: Monthly payments remain stable throughout the life of the loan, which allows for easier budgeting.

Mortgages

Marco Santarelli

JUNE 30, 2025

Related Topics: Mortgage Rates Trends as of June 29, 2025 Mortgage Rate Predictions for the Next 3 Years: 2026, 2027, 2028 Mortgage Rates Predictions for Next 90 Days: July-Sept 2025 Do Mortgage Rates Go Down During an Economic Recession? Suppose you're considering a $300,000 mortgage.

Fixed-rate mortgage

Marco Santarelli

MARCH 18, 2025

For example, on a $400,000 mortgage at today's rates: A 30-year mortgage at 6.57% would result in a monthly payment of around $2,547 (principal and interest). A 15-year mortgage at 6.01% would have a monthly payment of roughly $3,378 (principal and interest).

Mortgages

Marco Santarelli

APRIL 17, 2025

Economic forecasts suggest mortgage rates might stabilize around 6% by 2026, but volatility remains. Current Mortgage Rates: Snapshot of April 17, 2025 Loan Type Interest Rate Details 30-year fixed 6.74% The most popular fixed-rate mortgage. Might miss out on falling interest rates.

Mortgages

Marco Santarelli

MARCH 8, 2025

If you've got your sights set on a $500,000 home, you're likely asking the big question: How much would a $500,000 mortgage cost per month in March 2025? Well, based on the latest data from early March 2025, you could be looking at a principal and interest payment of around $3,200 to $3,300 for a 30-year fixed-rate mortgage.

Mortgages

Marco Santarelli

MARCH 30, 2025

This highlights the importance of checking current rates carefully when considering a refinance. Understanding Fixed-Rate Versus Adjustable-Rate Mortgages When navigating the world of mortgages, two primary types stand out: fixed-rate mortgages and adjustable-rate mortgages (ARMs).

Mortgages

Marco Santarelli

FEBRUARY 26, 2025

Are you glued to your screen, constantly refreshing to find out today's mortgage rates ? As of February 26, 2025, we've seen a welcome dip in mortgage rates. The average 30-year fixed-rate mortgage is currently sitting at 6.35%. Well, breathe a sigh of relief, because there's a bit of good news!

Mortgages

Marco Santarelli

MAY 20, 2025

States With Lowest Mortgage Rates Today May, 20 2025 Understanding Today's Mortgage Rate Scene It's May 20th, 2025, and the mortgage market is still a bit of a rollercoaster. National averages for 30-year fixed-rate mortgages are sitting around 7.07% , which is a slight increase from recent weeks.

Mortgages

Norada Real Estate

JUNE 12, 2025

Adjustable-Rate Mortgages When choosing a mortgage, borrowers must decide between fixed-rate and adjustable-rate options. Here's a brief overview of both types: Fixed-Rate Mortgages : These loans lock in a fixed interest rate for the entire term of the loan.

Mortgages

Marco Santarelli

JULY 8, 2025

As of today, July 8, 2025 , the national average for a 30-year fixed-rate mortgage is around 6.83%. While this is a slight increase from two weeks ago – rates dropped 16 basis points – it’s still better than the one-year high of 7.15% we saw in mid-May. You secure a 30-year mortgage at 6.67%.

Mortgages

Marco Santarelli

JULY 27, 2025

Example Calculation: What a 30-Year Fixed Mortgage Rate Means for Borrowers Suppose a borrower takes a $300,000 mortgage at the current 30-year fixed rate of 6.88%. Mortgage Market Trends and Forecasts Home Sales: Projected to reach about 4 million in 2025, slightly below 2024 figures.

Mortgages

Marco Santarelli

JANUARY 21, 2025

For new borrowers, this means if you secure a mortgage at the current average rate, your monthly principal and interest payments will amount to approximately $672.71 per $100,000 borrowed.

Mortgages

Marco Santarelli

APRIL 15, 2025

How Lower Rates Impact Your Wallet: An Example Let's say you're looking at a $400,000 mortgage. A rate drop from 7.2% Rate Monthly Payment (Principal & Interest) Total Interest Paid (over 30 years) 7.2% $2,717 $578,084 6.86% $2,624 $544,535 Over the life of the loan, you'd save over $33,000 !

Mortgages

Marco Santarelli

APRIL 15, 2025

Mortgage rates as of April 15, 2025, have seen a decrease for popular terms, particularly the 30-year fixed-rate mortgage , which now stands at 6.86%. Alongside the 30-year rate, the 15-year fixed-rate mortgage now sits at 6.19% , and the 30-year VA rate is priced at 6.46%.

Mortgages