Mortgage rates have moved up from recent lows, though they continue to stay under 6%. Zillow reports the average 30-year fixed rate is 5.93%, while the 15-year fixed home loan rate is 5.40%. The company compiles these figures from rates offered in its lender marketplace.
Current mortgage rates, based on the latest Zillow data, include a 30-year fixed at 5.93%, a 20-year fixed at 5.86%, and a 15-year fixed at 5.40%. Adjustable-rate mortgages show a 5/1 ARM at 6.26% and a 7/1 ARM at 6.43%. VA loan rates are 5.50% for 30-year, 5.10% for 15-year, and 5.11% for 5/1 VA. These numbers are national averages rounded to the nearest hundredth.
Today's mortgage refinance rates, according to Zillow data, are 6.00% for 30-year fixed, 5.88% for 20-year fixed, and 5.50% for 15-year fixed. Refinance rates for adjustable mortgages include 6.42% for 5/1 ARM and 6.61% for 7/1 ARM. VA refinance rates are 5.52% for 30-year, 5.14% for 15-year, and 5.39% for 5/1 VA. Again, these are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates for home purchases, though not always.
Recently, mortgage rates took a dive when President Trump announced proposals to enhance home affordability and lower mortgage rates. They have moved slightly above recent lows. However, according to Freddie Mac data, 30-year mortgage rates remain a half-point or more below where they were one year ago.