The average interest rate for a standard 30-year fixed mortgage is 7.02% today, up 0.06% compared to one week ago. The average rate for a 15-year fixed mortgage is 6.19%, which is an increase of 0 ...

Fixed-rate mortgages. A fixed-rate mortgage offers an interest rate that remains the same for the entirety of your loan’s life, meaning that, unless you refinance your home or pay the loan off ...

Fixed-rate mortgage. Down payment. Typically 3.5% to 20%. Typically 3% to 20%. Initial interest rate. May be lower or higher for the fixed period. May be lower or higher than an ARM’s fixed period.

With an adjustable rate mortgage, or ARM, interest rates can change based on market conditions. With an ARM, the borrower locks in a fixed rate for the introductory period, which is typically five ...

The average interest rate for a standard 30-year fixed mortgage is 6.90% today, a decrease of -0.07% compared to one week ago. The average rate for a 15-year fixed mortgage is 6.11%, which is a ...

Mortgage finance agency Fannie Mae's Economic and Strategic Research Group estimated the popular 30-year fixed-rate mortgage averaging 6.7% in the first quarter, unchanged from the final three ...

Freddie Mac reports an average 6.96% for a 30-year fixed-rate mortgage, down 8 basis points from last week's average 7.04%, according to its weekly Prime Mortgage Market Survey of nationwide ...

Prospective homeowners face a crucial decision when choosing between fixed-rate mortgages (FRMs) and adjustable-rate mortgages (ARMs). While ARMs have a controversial reputation following the 2008 ...

Higher monthly payments: The most notable drawback of a 15-year fixed-rate mortgage is the higher monthly payments. This means less money for you to save and put toward other financial goals.

During the last three years, mortgage rates have been on the rise. In early 2022, the average 30-year fixed rate was 4.72% and the 15-year fixed rate was 3.91%. Rates reached a recent peak in late ...

Freddie Mac’s rate for a 30-year fixed rate loan is 6.76% for the week ending May 1, nearly half a percentage point lower than a year ago. Current Mortgage Rates: May 2, 2025 | Nasdaq Skip to ...