Mortgage Rates on Steady Downward Trend: Today’s Mortgage Rates for June 27, 2025

Consult the forecasts for the weekly Money mortgage rate for a more in-depth overview of the next step for Fed rate decreases, labor data and inflation.

While the average fixed mortgage rates of 30 years have remained close to 7%, keeping potential buyers on the sidelines, the 15 -year fixed mortgage has finally entered the range of 5%. You can get an even lower rate by making a higher deposit, improving your credit scoring or purchasing mortgage points.

For a fixed rate mortgage of 30 years, the average rate you will pay is 6.75% today, down -0.07% compared to last week. The average rate for a fixed mortgage of 15 years is 5.92%, which represents a decrease of -0.08% since last week.

What about high rates these days? Persistent inflation, the threats of a world trade war and political turbulence have created uncertain economic perspectives. In response, the Federal Reserve has adopted an waiting approach and left interest rates unchanged this year, more recently on June 18.

If President Trump facilitates some of his aggressive tariff measures or if the labor market is deteriorating, this could encourage the Fed to reduce interest rates this fall. But potential buyers should not expect mortgage rates to become affordable overnight. Although cheaper borrowing costs gradually decrease on the housing market, the Fed did not directly fix the mortgage rates of lenders.

In addition, today’s unaffordable housing market, mortgage rates are just a piece of the puzzle. The high prices of the houses and the soaring of home ownership expenses, such as insurance and property taxes, further aggravates the pressure on potential buyers. The possibility of a job recession also pushes many households to tighten their budgets and take less financial risks.

When mortgage rates start to drop, be ready to take advantage of it. Experts recommend shopping and compare several offers to obtain the lowest rate. Enter your information here to obtain a personalized quote from one of CNET’s partner lenders.

About these rates: The Bankrate tool offers rates of partner lenders that you can use when comparing multiple mortgage rates.

What should I know about mortgage rates today?

Mortgage rates are closely linked to the bond market, in particular the performance of the treasury at 10 years, which reflects the expectations of investors in terms of inflation, labor data, changes in monetary policy and global measures such as prices.

“The rates could drop if inflation continues to cool and the labor market softens,” said Jeb Smith, approved real estate agent and a member of the CNET Money expert committee. “On the other hand, the prices could create new inflation pressure. Add government deficits and the increase in bond supply, and this exerts upward pressure on rates.”

Even if the Fed finally begins to reduce borrowing rates, experts warn that significant market volatility is likely. Consequently, buyers adopt a more patient and strategic approach to financing, the comparison of various types of loans and planning in advance.

“Some are waiting, others are pre-prone now, so they are ready to act if the rates drop,” said Smith.

For an overview of the mortgage rates movement in recent years, see the graph below.

Will mortgage rates fall in 2025?

Despite the hope that 2025 would bring relief to the housing market, economic and political instability maintained it in neutral.

The median family income has not followed the pace of the high increase in housing costs, forcing many households to gain double or triple of their salary to afford a modest house in certain cities.

Meanwhile, the “locked” effect, where current owners with low rate mortgages are reluctant to sell and assume higher interest rates, has maintained tight and fed housing stocks in high demand areas.

According to Smith, mortgage rates could reduce slowly and regularly, but many risks could also maintain high rates. Fannie MAE is now expecting rates of around 6.1% by the end of 2025 and 5.8% by the end of 2026.

What are the different mortgage types?

Each mortgage has a loan period or a payment schedule. The most common mortgage conditions are 15 and 30 years old, although mortgages of 10, 20 and 40 years old also exist. With a fixed rate mortgage, the interest rate is set for the duration of the loan, offering stability. With an adjustable rate mortgage, the interest rate is only set for a certain time (generally five, seven or 10 years), after which the rate is adjusted annually depending on the market. Fixed rate mortgages are a better option if you plan to live in a long -term house, but adjustable rate mortgages can offer lower interest rates in advance.

Fixed rate mortgages of 30 years

The average interest rate for a standard fixed mortgage at 30 years is 6.75% today. A 30 -year fixed mortgage is the most common loan duration. It will often have a higher interest rate than a mortgage of 15 years, but you will have a lower monthly payment.

Fixed rate mortgages of 15 years

Today, the average rate of a fixed mortgage of 15 years is 5.92%. Although you will have a larger monthly payment than a fixed mortgage of 30 years, a 15 -year loan is generally delivered with a lower interest rate, allowing you to pay less long -term interest and reimburse your mortgage earlier.

5/1 adjustable mortgages

One arm 5/1 has an average rate of 6.08% today. You will generally get an interest rate of lower introduction with an arm 5/1 during the first five years of the mortgage. But you can pay more after this period, depending on how the rate adjusts each year. If you plan to sell or refinance your home within five years, an arm may be a good option.

Calculate your monthly mortgage payment

Obtaining a mortgage should always depend on your financial situation and your long -term goals. The most important thing is to make a budget and try to stay according to your means. The CNET mortgage calculator below can help buyers prepare for monthly mortgage payments.

Where can I find the best mortgage rates?

Although mortgage rates and house prices are high, the housing market will not be unaffordable forever. It’s always the right time to save for a deposit and improve your credit scoring to help you guarantee a competitive mortgage rate when the time has come.

1. Save for a more important deposit: Although a 20% deposit is not required, a larger initial payment means withdrawing a smaller mortgage, which will help you save interest.
2. Boost your credit scoring: You can be eligible for a conventional mortgage with a credit rating of 620, but a higher score of at least 740 will get you better prices.
3. Repay the debt: Experts recommend a 36% or less debt ratio to help you be eligible for the best rates. Do not wear another debt will put you in a better position to manage your monthly payments.
4. Loans and research assistance: The government sponsored by the government have more flexible borrowing requirements than conventional loans. Certain programs sponsored by the government or private can also help you with your deposit and your fence costs.
5. Go around the lenders: Research and comparison of multiple loan offers from different lenders can help you guarantee the lowest mortgage rate for your situation.