Mortgage rates continued to fluctuate on Monday, May 19, 2025, with the national average for a 30-year fixed mortgage rising to 7.05%, according to Zillow. This marks a slight increase from 7.03% the previous day and a 4 basis point jump from last week’s average of 7.01%.
Meanwhile, the average 15-year fixed mortgage rate edged down slightly to 6.08%, while the average 5-year ARM rate jumped to 7.94% from 7.75%.
Current average mortgage rates
Here’s how today’s rates compare to last week’s averages across major loan types:
Conforming Loans (as of May 19, 2025)
| Loan Type | Rate | Change (1W) | APR | Change (1W) |
|---|---|---|---|---|
| 30-Year Fixed | 7.05% | +0.04% | 7.46% | -0.01% |
| 20-Year Fixed | 7.01% | +0.13% | 7.33% | +0.12% |
| 15-Year Fixed | 6.08% | -0.02% | 6.33% | -0.07% |
| 10-Year Fixed | 6.27% | No change | 6.37% | No change |
| 5-Year ARM | 7.94% | +0.16% | 8.21% | +0.13% |
Government Loans
| Loan Type | Rate | Change (1W) | APR | Change (1W) |
|---|---|---|---|---|
| FHA 30-Year Fixed | 6.63% | -0.29% | 7.65% | -0.30% |
| VA 30-Year Fixed | 6.40% | -0.06% | 6.62% | -0.05% |
| FHA 15-Year Fixed | 5.91% | +0.20% | 6.88% | +0.18% |
| VA 15-Year Fixed | 5.92% | -0.07% | 6.28% | -0.06% |
Jumbo Loans
| Loan Type | Rate | Change (1W) | APR | Change (1W) |
|---|---|---|---|---|
| 30-Year Jumbo Fixed | 7.47% | -0.05% | 7.76% | -0.20% |
| 15-Year Jumbo Fixed | 6.68% | +0.05% | 6.84% | -0.10% |
| 5-Year ARM Jumbo | 7.65% | +0.03% | 8.02% | -0.03% |
What affects mortgage rates?
Mortgage rates are influenced by a mix of economic factors, including inflation trends, Federal Reserve policies, and the broader bond market. For borrowers, credit score, loan type, down payment, and location also affect the rate they are offered.
How to get the best mortgage rate
To secure the lowest possible rate, consider the following steps:
- Compare multiple lenders: Get quotes from at least three lenders to find the best offer.
- Improve your credit score: Higher credit scores typically qualify for better rates.
- Increase your down payment: Putting 20% or more down can reduce both your rate and private mortgage insurance costs.
- Consider shorter loan terms or ARM options: 15-year fixed or ARM loans may offer lower initial rates, though ARMs come with long-term rate variability.
- Watch for lender fees: Factor in origination fees, points, and closing costs when comparing offers.
Key takeaways
- The average 30-year fixed mortgage rate rose to 7.05% on May 19.
- The 15-year fixed rate dipped slightly to 6.08%.
- 5-year ARMs jumped to 7.94%, the highest in recent weeks.
- Government-backed and jumbo loan rates are showing mixed trends.
- Shopping around and improving financial credentials remain critical to securing the best mortgage terms.
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