Mortgage rates affect home affordability and long-term costs. Rates vary by economy, loan type and borrower credit. Lower rates can save money. NEW YORK – Buying a home is the most expensive purchase many people make in their lifetimes. Some people do it only once, while others are in the market with greater frequency. In
Loan Type New Purchase Rates Daily Change 30-Year Fixed 7.07% +0.06 FHA 30-Year Fixed 7.37% No Change VA 30-Year Fixed 6.70% +0.04 20-Year Fixed 6.94% +0.11 15-Year Fixed 6.14% +0.04 FHA 15-Year Fixed 6.78% No Change 10-Year Fixed 5.94% +0.10 7/6 ARM 7.18% -0.09 5/6 ARM 7.24% -0.07 Jumbo 30-Year Fixed 7.04% +0.04 Jumbo 15-Year
The average rate on a 30-year mortgage in the U.S. edged above 6.8% this week, returning to where it was just three weeks ago. The rate increased to 6.81% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.02%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners
The high street lender has reduced its stress rates – which are used to determine if they can afford to continue to pay their mortgage if interest rates rise – by between 0.75 and 1.25 percentage points 12:20, 15 May 2025Updated 12:36, 15 May 2025 Nationwide has made a change to its stress rates(Image: Mike
Mortgage rates jumped significantly on May 15, 2025, with the average 30-year fixed-rate mortgage now sitting at 6.90%. That’s a 1.47% increase from last week, according to data from the Mortgage Research Center. This rate hike marks one of the largest week-over-week increases in 2025 and could impact affordability for buyers and homeowners considering refinancing.
MEMPHIS, Tenn. – Days after crooks tried to steal a Munford woman’s home, a Mississippi man warned he lost $3,000 in a mortgage scam. “I’m thinking all of this is 100% legit,” the Lafayette County man explained. “But it was not.” Harry Smith told FOX13 he wanted to lower his monthly mortgage payment. He received
Another mortgage company is trying to become more of a one-stop shop for homebuyers Mortgage lender Lower is acquiring real estate portal Movoto and its parent company, OJO Labs, Inman reported. Financial terms of the merger were not disclosed. The merger will help to create “an end-to-end homeownership platform,” according to a statement put out
Mortgage application volume saw a modest increase last week, buoyed by a notable rise in home purchase activity, according to the Mortgage Bankers Association’s (MBA) latest Weekly Mortgage Applications Survey. For the week that ended May 9, 2025, total mortgage applications rose 1.1% on a seasonally adjusted basis compared to the prior week. Unadjusted, applications
Loan Type New Purchase Rates Daily Change 30-Year Fixed 7.01% +0.01 FHA 30-Year Fixed 7.37% No Change VA 30-Year Fixed 6.66% +0.04 20-Year Fixed 6.83% +0.01 15-Year Fixed 6.10% +0.02 FHA 15-Year Fixed 6.78% No Change 10-Year Fixed 5.84% +0.03 7/6 ARM 7.27% +0.13 5/6 ARM 7.31% +0.03 Jumbo 30-Year Fixed 7.00% -0.01 Jumbo 15-Year
Mortgage rates ticked up slightly on May 14, 2025, following a mixed April inflation report from the Bureau of Labor Statistics. While year-over-year inflation cooled to its slowest pace since February 2021, housing costs remain elevated—contributing to instability in mortgage interest rates across the board. Today’s mortgage interest rates According to Zillow data, the average