Current Mortgage Rates

30-Year Fixed-Rate Mortgages

• The average rate hovers around 6.85%–7.00%.
  • Freddie Mac reported 6.85% for the week ending May 29, 2025 marketwatch.com+1marketwatch.com+1investopedia.com+4newsweek.com+4aol.com+4nasdaq.com.
  • Investopedia/Zillow Mortgage API showed a small dip to 7.00% as of Monday investopedia.com.
  • Bankrate and Mortgage News Daily confirm recent averages of 6.89%–6.99%, slightly down from earlier highs near 7% .

Other Loan Types

• 15-Year Fixed: ~6.05%–6.15% marketwatch.com+15investopedia.com+15bankrate.com+15
• Jumbo 30-Year: ~6.99% businessinsider.com+15investopedia.com+15zillow.com+15
• ARMs (e.g., 5/6 ARM): ~7.30% bankrate.com+2investopedia.com+2bankrate.com+2

Why Rates Are Still High

• Rates align with 10-year Treasury yields, which remain elevated despite Fed cuts investopedia.com+15bankrate.com+15sfgate.com+15.
• Big banks like Wells Fargo forecast sustained highs: 6.9% for 30-year fixed in 2025, easing slightly in 2026 themortgagereports.com+4investopedia.com+4bankrate.com+4.
• Goldman Sachs sees 30-year rates settling around 6.75% by year-end businessinsider.com.

What This Means for You

• Buyer Strategy:
  A 0.5%–1% shift can add thousands to your mortgage cost—so shop around and compare APRs bankrate.com.
• Refinancing Insight:
  With rates near 7%, refinancing may not save money unless your current rate is significantly higher.
• Shorten or Adjust:
  Consider a 15-year fixed for lower rates or an ARM if planning a shorter stay.

Outlook for the Year

• Moderate rate declines are possible (6.50%–6.75% by year-end), but long-term stabilization seems likely investopedia.com+3bankrate.com+3bankrate.com+3.