The average 30-year fixed mortgage rate has remained below 6% for a full week, according to data from Zillow. The current 30-year rate is 5.90%. There is no guarantee that rates will continue to fall.
Zillow's latest data shows current mortgage rates. The 30-year fixed rate is 5.90%. The 20-year fixed is 5.84%. The 15-year fixed is 5.36%. The 5/1 ARM is 6.11%. The 7/1 ARM is 6.28%. The 30-year VA is 5.48%. The 15-year VA is 5.07%. The 5/1 VA is 5.17%. These are national averages rounded to the nearest hundredth.
Today's mortgage refinance rates are also available. The 30-year fixed refinance rate is 6.01%. The 20-year fixed is 5.94%. The 15-year fixed is 5.45%. The 5/1 ARM is 6.37%. The 7/1 ARM is 6.48%. The 30-year VA is 5.51%. The 15-year VA is 5.14%. The 5/1 VA is 5.29. These numbers are also national averages. Mortgage refinance rates are often higher than purchase rates.
Overall, mortgage rates have dropped gradually since the end of May. The 30-year fixed rate was over 7% in January. It was 6.89% on May 29 and has been moving down slowly since then.
According to its December forecast, the Mortgage Bankers Association expects the 30-year mortgage rate to be near 6.4% through 2026. Fannie Mae predicts a rate above 6% through next year, dipping to 5.9% in the fourth quarter of 2026.