Key Takeaways
- 30-year mortgage rates had been falling for five weeks after a mid-May surge—but they’ve now inched up two weeks in a row.
- That’s pushed estimated monthly payments slightly higher, making mortgages a bit more expensive for today’s homebuyers.
- The current average for 30-year fixed rates is 6.86%—still more than a quarter point below the May 23 peak of 7.12%.
- A $350,000 loan at today’s 30-year rate results in a $2,296 monthly payment—$24 more than two weeks ago, or $288 more per year.
- See our full tables below for more rates and payment comparisons by loan type.
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Mortgage Rates Have Edged Up From a Spring Low
In mid-May, mortgage rates spiked as the bond market reacted to news that President Trump’s proposed tax bill was gaining momentum in Congress. Concerns about the legislation widening the federal deficit pushed 10-year Treasury yields sharply higher—triggering a jump in mortgage rates.
Over the following five weeks, however, homebuyers got some relief, as mortgage rates steadily declined across nearly every new purchase loan type. Most averages fell to their lowest levels since early April—and in some cases, even March.
But now, mortgage rates have begun to inch back up for many loan types. Fortunately, the increases so far have been modest, keeping most loan averages close to their recent lows.
Below, we break down how rates have changed for each new purchase loan average. We then take a closer look at 30-year, 15-year, and jumbo 30-year fixed-rate loans.
Changes in New Purchase Mortgage Rates by Loan Type
| Mortgage Type | Jun 27 | Jul 11 | 2-Week Change |
|---|---|---|---|
| 30-Year Fixed | 6.76% | 6.86% | + 0.10 |
| FHA 30-Year Fixed | 7.55% | 7.55% | + 0.00 |
| VA 30-Year Fixed | 6.44% | 6.55% | + 0.11 |
| 20-Year Fixed | 6.41% | 6.66% | + 0.25 |
| 15-Year Fixed | 5.72% | 5.88% | + 0.16 |
| FHA 15-Year Fixed | 6.76% | 6.76% | + 0.00 |
| 10-Year Fixed | 5.70% | 5.53% | – 0.17 |
| 7/6 ARM | 7.36% | 7.42% | + 0.06 |
| 5/6 ARM | 7.32% | 7.48% | + 0.16 |
| Jumbo 30-Year Fixed | 6.78% | 6.86% | + 0.08 |
| Jumbo 15-Year Fixed | 6.79% | 6.88% | + 0.09 |
| Jumbo 7/6 ARM | 7.11% | 7.22% | + 0.11 |
| Jumbo 5/6 ARM | 7.18% | 7.20% | + 0.02 |
30-Year Rates Continue to Rise—But Remain Below The May Surge
After climbing to a weekly average of 7.12% on May 23, rates on new 30-year purchase loans dropped 36 basis points over the next five weeks. The resulting 6.76% average on June 27 was the second-lowest level for 30-year rates in almost three months.
Rates have now inched up, however. With a two-week increase of 10 basis points, the flagship average moved to 6.86% on Friday. Though higher than the low point two weeks ago, today’s rates are still 26 basis points cheaper than at the May peak.
What’s the 30-Year Rate in Your State?
We publish national rate averages for all major loan types every business day—plus 30-year averages for every state. Right now, the lowest rates are available in New York, Hawaii, and Connecticut.
15-Year Rates Continue to Climb Closer to 6% Territory
Rates on 15-year new purchase loans fell a dramatic 38 basis points over five weeks after the May surge, dropping to a June 27 average of 5.72% that was the lowest since late February. But over the past two weeks, 15-year rates added back 16 basis points, rising to a 5.88% average.
Jumbo 30-Year Mortgages Moved Lower Last Week
Rates on jumbo 30-year new purchase loans fell 32 basis points after hitting a 7.10% average on May 23, dropping to 6.78% by June 27. The average then climbed 13 basis points before dipping back 5 points last week. Friday’s reading landed at 6.86%—8 basis points above the low from two weeks ago.
What’s a Jumbo Loan?
A jumbo mortgage exceeds the loan limits set for conforming loans by Fannie Mae and Freddie Mac—$806,500 for most U.S. single-family homes in 2025, and up to $1,209,750 in high-cost areas.
Here’s What You’d Pay Each Month With Today’s Mortgage Rates
To show how recent rate changes affect monthly payments, the tables below break down principal-and-interest costs for various loan amounts using 30-year, 15-year, and jumbo 30-year fixed-rate new purchase mortgages.
Monthly Mortgage Payments for 30-Year Loans
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
|---|---|---|---|---|---|---|
| Fri, Jun 27 | 6.76% | $1,623 | $2,272 | $2,922 | $3,571 | $4,220 |
| Fri, Jul 11 | 6.86% | $1,640 | $2,296 | $2,952 | $3,608 | $4,264 |
| 2-week change | + 0.10 | + $17 | + $24 | + $30 | + $37 | + $44 |
| Annual increase | + $204 | + $288 | + $360 | + $444 | + $528 |
Monthly Mortgage Payments for 15-Year Loans
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
|---|---|---|---|---|---|---|
| Fri, Jun 27 | 5.72% | $2,072 | $2,901 | $3,730 | $4,558 | $5,387 |
| Fri, Jul 11 | 5.88% | $2,093 | $2,931 | $3,768 | $4,606 | $5,443 |
| 2-week change | + 0.16 | + $21 | + $30 | + $38 | + $48 | + $56 |
| Annual increase | + $252 | + $360 | + $456 | + $576 | + $672 |
By definition, jumbo 30-year mortgages are larger loans. So below we’ve run our calculations on loan amounts of $800,000 to $1.2 million.
Monthly Mortgage Payments for Jumbo 30-Year Loans
| National average rate | $800,000 | $900,000 | $1,000,000 | $1,100,000 | $1,200,000 | |
|---|---|---|---|---|---|---|
| Fri, Jun 27 | 6.78% | $5,205 | $5,855 | $6,506 | $7,157 | $7,807 |
| Fri, Jul 11 | 6.86% | $5,247 | $5,903 | $6,559 | $7,215 | $7,871 |
| 2-week change | + 0.08 | + $42 | + $48 | + $53 | + $58 | + $64 |
| Annual increase | + $504 | + $576 | + $636 | + $696 | + $768 |
How We Track Mortgage Rates
The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an applicant credit score in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2025. Use is subject to the Zillow Terms of Use.
