Mortgage Rates Today: June 17, 2025 - 30-Year and 15-Year Rates Hold Steady
The current average mortgage rate on a 30-year fixed mortgage is 6.81% with an APR of 6.84%, according to the Mortgage Research Center. The 15-year fixed mortgage has an average rate of 5.81% with an APR of 5.86%. On a 30-year jumbo mortgage, the average rate is 7.08% with an APR of 7.10%.
Borrowers paid an average rate of 6.81% on a 30-year mortgage. This was down from the previous week's rate of 6.9%.
Currently, the average APR on a 30-year fixed-rate mortgage is 6.84%. This is lower than last week when the APR was 6.93%. The APR contains both mortgage interest and the lender fees to help give a more complete picture of loan costs.
To get an idea of how much you'll pay: a $100,000 mortgage with a 30-year fixed-rate loan at the current average interest rate of 6.81% will cost you about $653 including principal and interest (taxes and fees not included) each month, the Forbes Advisor mortgage calculator shows. That's around $135,653 in total interest over the life of the loan.
Today's 15-year mortgage (fixed-rate) is 5.81%, down 1.56% from the previous week. The same time last week, the 15-year, fixed-rate mortgage was at 5.91%.
The APR on a 15-year fixed is 5.86%. It was 5.95% a week earlier.
A 15-year, fixed-rate mortgage with today's interest rate of 5.81% will cost $834 per month in principal and interest on a $100,000 mortgage (not including taxes and insurance). In this scenario, borrowers would pay approximately $50,556 in total interest.
The current average interest rate on a 30-year fixed-rate jumbo mortgage (a mortgage above 2025's conforming loan limit of $806,500 in most areas) is 7.08%. Last week, the average rate was 7.29%.
If you lock in the latest rate on a 30-year, fixed-rate jumbo mortgage, you will pay $671 per month in principal and interest per $100,000 borrowed, which amounts to $141,883 in total interest over the life of the loan.
Mortgage rates initially trended downward post-spring 2024. However, they surged again in October 2024—despite cuts by the Federal Reserve to the federal funds rate (its benchmark interest rate) in September, November and December 2024.
Rates began to drop again in mid-January 2025, but experts don't forecast them falling by a significant amount in the near future.
Various economic factors influence mortgage rates, making it challenging to forecast when rates will drop.
The Federal Reserve's decisions significantly impact mortgage rates. In response to inflation or an economic downturn, the Fed may lower its federal funds rate, prompting lenders to reduce mortgage rates.
Mortgage rates also track U.S. Treasury bond yields. If bond yields drop, mortgage rates typically follow suit.
Finally, global events that cause financial disruptions can affect mortgage rates. For example, the Covid-19 pandemic led to record-low interest rates when the Fed cut rates.
While a significant decrease in mortgage rates is unlikely in the near future, they may start to decline if inflation eases or the economy weakens.
The Federal Reserve's restrictive monetary policy – including its interest rate hikes, which it's using to restrain inflation – is the primary factor that's pushing long-term mortgage rates higher. The state of the economy and housing market also affects mortgage rates. As for what interest rate the lender might offer you, this depends on your debt-to-income (DTI) ratio and credit score, both of which indicate your risk as a borrower.
Related: Mortgage Rates Forecast And Trends
Shop around and talk to various lenders to get a sense of each company's mortgage loan offerings and services. Don't go with the first lender quote you receive; instead, compare the best mortgage rate quotes to get a deal. In particular, consider what fees they charge, what fees they're willing to waive and what closing assistance they might provide. Make sure any special offers or discounts don't come at the cost of a higher mortgage rate.
Be sure to apply with each lender within a 45-day window. During this window, you can have multiple lenders pull your credit history without additional impact on your credit score.
Mortgage rates remain elevated, and the nation's housing supply remains limited. The low inventory is preventing house prices from dropping. Meanwhile, the combination of high mortgage rates and appreciated home values will continue to present an obstacle for many prospective homebuyers seeking affordable housing.
Home loan borrowers can qualify for better mortgage rates by having good or excellent credit, maintaining a low debt-to-income (DTI) ratio and pursuing loan programs that don't charge mortgage insurance premiums or similar ongoing charges that increase the loan's APR.
Comparing rates from different mortgage lenders is an excellent starting point. You may also compare conventional, first-time homebuyer and government-backed programs like FHA and VA loans, which have different rates and fees.
Several economic factors influence the trajectory of rates for new home loans. For example, Federal Reserve rate hikes indirectly cause the interest rates for many long-term loans to increase. Rates are more likely to decrease when the Fed pauses or decreases its benchmark Federal Funds Rate.
The inflation rate and the general state of the economy also impact interest rates. High inflation and a strong economy typically signal higher rates. Cooling consumer demand or inflation may lead to rate decreases.
Many home buyers are eligible for several mortgage loan types. Each program can have its own advantages:
A competitive mortgage rate currently ranges from 6% to 8% for a 30-year fixed loan. Several factors impact mortgage rates, including the repayment term, loan type and borrower's credit score.
Lenders adjust mortgage rates daily based on economic conditions, inflation, bond market movements and Federal Reserve actions.
If you're shopping around for a mortgage, remember that you might be able to lock in a rate for 30 up to 120 days, depending on the lender. Note that some lenders charge a fee to lock your rate while others offer the service for free.
A mortgage interest rate reflects what a lender is charging you on top of your loan amount in return for allowing you to borrow money.
Annual percentage rate (APR), on the other hand, is a calculation that includes both a loan's interest rate and finance charges, expressed as an annual cost over the life of the loan. In other words, it's the total cost of credit. APR accounts for interest, fees and time.
Since APRs include both the interest rate and certain fees associated with a home loan, the APR can help you understand the total cost of a mortgage if you keep it for the entire term. The APR will usually be higher than the interest rate, but there are exceptions.
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