Mortgage and refinance interest rates today, July 27, 2025: Rates are expected to stay high through 2025
Though rates are decreasing, 30-year fixed mortgage rates have only gone down 0.04%, while 15-year rates fell a mere 0.02% according to Freddie Mac data. If you are looking to buy a house, it makes the most sense to lock in a mortgage when it fits your financial situation, rather than waiting to see if on interest rates get lower in the future.
Dig deeper: 2025 housing market — Is it a good time to buy a house?
Current mortgage rates
Here are the current mortgage rates, according to the latest Zillow data:
30-year fixed: 6.68%
20-year fixed: 6.52%
15-year fixed: 5.91%
5/1 ARM: 7.26%
7/1 ARM: 7.25%
30-year VA: 6.29%
15-year VA: 5.64%
5/1 VA: 6.15%
Remember, these are the national averages and rounded to the nearest hundredth.
Learn more: 8 strategies for getting the lowest mortgage rates
Current mortgage refinance rates
These are today's mortgage refinance rates, according to the latest Zillow data:
30-year fixed: 6.79%
20-year fixed: 6.31%
15-year fixed: 5.91%
5/1 ARM: 7.37%
7/1 ARM: 7.15%
30-year VA: 6.26%
15-year VA: 6.11%
5/1 VA: 5.86%
Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case.
Read more: Is now a good time to refinance your mortgage?
Refinance interest rates
Up Next
Up Next
Monthly mortgage payment calculator
Use the mortgage calculator below to see how various mortgage terms and interest rates will impact your monthly payments.
Our free mortgage calculator also considers factors like property taxes and homeowners insurance when determining your estimated monthly mortgage payment. This gives you a more realistic idea of your total monthly payment than if you just looked at mortgage principal and interest.
30-year vs. 15-year fixed mortgage rates
The average 30-year mortgage rate today is 6.68%. A 30-year term is the most popular type of mortgage because by spreading out your payments over 360 months, your monthly payment is lower than with a shorter-term loan.
The average 15-year mortgage rate is 5.91% today. When deciding between a 15-year and a 30-year mortgage, consider your short-term versus long-term goals.
A 15-year mortgage comes with a lower interest rate than a 30-year term. This is great in the long run because you'll pay off your loan 15 years sooner, and that's 15 fewer years for interest to accumulate. But the trade-off is that your monthly payment will be higher as you pay off the same amount in half the time.
Let's say you get a $300,000 mortgage. With a 30-year term and a 6.68% rate, your monthly payment toward the principal and interest would be about $1,932, and you'd pay $395,468 in interest over the life of your loan — on top of that original $300,000.
If you get that same $300,000 mortgage with a 15-year term and a 5.91% rate, your monthly payment would jump to $2,846. But you'd only pay $153,061 in interest over the years.
Fixed-rate vs. adjustable-rate mortgages
With a fixed-rate mortgage, your rate is locked in for the entire life of your loan. You will get a new rate if you refinance your mortgage, though.
An adjustable-rate mortgage keeps your rate the same for a predetermined period of time. Then, the rate will go up or down depending on several factors, such as the economy and the maximum amount your rate can change according to your contract. For example, with a 7/1 ARM, your rate would be locked in for the first seven years, then change every year for the remaining 23 years of your term.
Adjustable rates typically start lower than fixed rates, but once the initial rate-lock period ends, it's possible your rate will go up. Lately, though, some fixed rates have been starting lower than adjustable rates. Talk to your lender about its rates before choosing one or the other.
Dig deeper: Fixed-rate vs. adjustable-rate mortgages
How to get a low mortgage rate
Mortgage lenders typically give the lowest mortgage rates to people with higher down payments, great or excellent credit scores, and low debt-to-income ratios. So, if you want a lower rate, try saving more, improving your credit score, or paying down some debt before you start shopping for homes.
Waiting for rates to drop probably isn't the best method to get the lowest mortgage rate right now. If you're ready to buy, focusing on your personal finances is probably the best way to lower your rate.
How to choose a mortgage lender
To find the best mortgage lender for your situation, apply for mortgage preapproval with three or four companies. Just be sure to apply to all of them within a short time frame — doing so will give you the most accurate comparisons and have less of an impact on your credit score.
When choosing a lender, don't just compare interest rates. Look at the mortgage annual percentage rate (APR) — this factors in the interest rate, any discount points, and fees. The APR, which is also expressed as a percentage, reflects the true annual cost of borrowing money. This is probably the most important number to look at when comparing mortgage lenders.
Learn more: Best mortgage lenders for first-time home buyers
Current mortgage rates: FAQs
What is a mortgage interest rate at right now?
According to Zillow, the national average 30-year mortgage rate for purchasing a home is 6.68%, and the average 15-year mortgage rate is 5.91%. But these are national averages, so the average in your area could be different. Averages are typically higher in expensive parts of the U.S. and lower in less expensive areas.
What's a good mortgage rate right now?
The average 30-year fixed mortgage rate is 6.68% right now, according to Zillow. However, you might get an even better rate with an excellent credit score, sizable down payment, and low debt-to-income ratio (DTI).
Are mortgage rates expected to drop?
Mortgage rates aren't expected to drop drastically in the near future, though they may inch down now and then.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
A More Affordable EV Won't Save Tesla
Key Points Tesla fell 5% after hours on its second-quarter earnings report. Some investors saw production of a new, more affordable vehicle as a positive sign. The company launched its robotaxi network in June. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) issued another disappointing earnings report on Tuesday. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service The leading electric vehicle (EV) maker finished the after-hours session down 5%, but the sell-off could have been worse. The company reported a decline in both sales and profit. Revenue was down 12% to $22.5 billion, and adjusted net income was down 23% to $1.39 billion, or $0.40 per share. Those numbers actually topped a muted revenue estimate at $22.13 billion, while the bottom-line consensus matched the results at $0.40. Tesla's problems have been well-documented at this point. CEO Elon Musk's turn in the political spotlight seemed to backfire after his relationship with President Donald Trump went sour. Due in part to Musk's involvement with politics, the brand has become unappealing in the eyes of some potential buyers, leading to a 16% decline in automotive revenue. Sales have plunged in Europe, and the company is losing ground to more affordable Chinese EVs. One seemingly bright spot Musk has a long history of overcoming weak results by telling investors what they want to hear on the earnings call, including making big promises about its robotaxi network and other initiatives in autonomy like its Optimus robot. He seemed to do that again on the latest earnings call, with some comments about the more affordable model he has long promised, which some have dubbed the Tesla Model 2. Musk said that the company started production of the vehicle in June and is ramping up production now. He added: "The goal with those products was not to negatively impact revenue or gross margin, but just to make a car that everyone loves and wants at a more affordable price." Musk has long argued that price competition was one of the biggest headwinds facing the company, but the brand crisis seems to have overshadowed that. By introducing its own lower-priced model, Tesla may end up cannibalizing its more expensive vehicles. Customers may be choosing between a more expensive Tesla and that lower-priced model, rather than another brand. The new vehicle is just a cheaper Model Y, rather than a brand-new vehicle model. The robotaxi initiative The biggest reason Tesla has maintained its premium valuation even as sales and profits have tumbled is that investors believe that Tesla's robotaxi network could go mainstream, fulfilling Musk's long-term vision. However, the robotaxi has gotten off to only a modest start after launching in June, and it seemed to get less attention on Tuesday's earnings call, though Musk reminded the audience: "As you can tell, autonomy is the story." Management said that robotaxis in Austin, Texas have topped 7,000 miles with no significant safety interventions. The company is aiming to launch the robotaxi in the San Francisco Bay Area next. Tesla needs growth in its core business Investors have bid up Tesla stock on hopes for its initiatives in robotaxis and more affordable vehicles, but the company needs to return to growth in selling EVs for the stock to be successful over the long term. The decline in EV sales is a reflection of a backlash against Tesla's brand. The company is also expected to struggle over the next few quarters due to the elimination of the EV tax credit and a change in other federal policies that supported EV adoption. The company also faces a $300 million effect from tariffs. Tesla could get back on track, especially if the robotaxi network takes off. But the current valuation in the stock leaves little room for upside if it does, especially given the persistent challenges in EV sales. While a more affordable vehicle might be a step in the right direction, it seems more likely to undercut demand for Tesla's more expensive vehicles, rather than competing with alternatives. Should you buy stock in Tesla right now? The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. A More Affordable EV Won't Save Tesla was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fox News
27 minutes ago
- Fox News
Trump is concerned about how the Fed is managed more than about firing Powell, says deputy chief of staff
Deputy White House chief of staff James Blair discusses where President Trump stands on Jay Powell's position with the Federal Reserve, when we may start to see rate cuts, and more on 'Sunday Night in America.'
Yahoo
42 minutes ago
- Yahoo
Trump is losing support from men as approval rating drops below 50%
Men are cooling on Donald Trump after making up a significant chunk of the president's 2024 voting bloc. According to a new poll by CBS/YouGov, Trump's approval rating is tanking with men during his second term. It found that 47 percent of men approve of Trump's job, and 53 percent do not. Last October — just before Trump's second electoral victory — a similar CBS/YouGov poll found that 54 percent of men supported Trump and 64 percent said they thought he would be a strong leader. The drop overall reflects a broader disapproval with Trump's second term; DecisionDeskHQ's polling averages showed that the president's overall approval rating was down by about 12 points since January, a drop from 56 percent then to 44 percent this week. According to the new CBS/YouGov poll, 47 percent of men said Trump was focusing "too much" on deportations, while 33 percent said he was showing the "right amount" of focus. In another metric, 65 percent of men said Trump has not done enough to lower prices, and only 29 percent said they felt he had. On February 7, Trump had a 60 percent approval rating with men, but his numbers began to slip in the months that followed, according to the poll. By the end of the month, his favorability had dropped to 56 percent, and by April 11 — just a week after he unveiled his tariff plan — men's approval of the president fell to 49 percent. Trump won big with men in 2024. According to Pew Research, men favored Trump by 12 points in 2024. Men under 50 split their votes almost evenly between former Vice President Kamala Harris and Trump. In 2020, men under 50 backed former President Joe Biden over Trump by 10 points. According to the CBS/YouGov polling data, the big issues driving down Trump's approval with men are his performance on the economy, his seeming inability to curb inflation, and his intense focus on immigration issues. By mid-April, Trump's approval rating among men on the economy dropped to minus 10 points, his approval regarding inflation fell to minus 20, and his immigration approval — one of his strongest areas among men — dropped to just plus six points, The poll found that 49 percent of men believe that the economy is getting worse, and 65 percent said that Trump wasn't doing enough to lower prices for goods and services. Another 60 percent said they believe Trump is focusing too much on tariffs, and 57 percent believe his policies are directly increasing the cost of their groceries. They aren't wrong about their grocery bills; Consumer Price Index data shows that annual inflation rose by 2.7 percent in June, up from 2.4 percent in May. They're also not wrong about Trump's tariffs, according to Yale's Budget Lab. Americans are currently facing an average tariff rate of 18.7 percent, which is the highest it has been since 1933. The three key issues driving down Trump's approval rating were the major issues that attracted men to Trump in the first place, according to the poll. That could spell trouble for Republicans come the midterm elections if they do not adjust their focus and messaging before the election. Trump's dipping approval comes at a difficult time for him, as even some stalwart supporters among his voter base and within his party are questioning him over his handling of the alleged "Epstein client list." The president promised to be transparent about what the government knew of disgraced New York financier and child sex trafficker Jeffrey Epstein — a man who had a long and well-documented friendship with Trump. After U.S. Attorney General Pam Bondi told the public she had the so-called client list on her desk, the administration backtracked and insisted no such file existed, and confirming previous rulings that Epstein died by suicide in his New York jail cell while awaiting trial. Trump has reacted with dismissal and annoyance toward Republicans — and his own voters — who have asked him questions about his administration's position on the Epstein documents. Since then, Trump has faced questions and criticism from his voting base and within the conservative cultural sphere that helped sell his vision for America to the public — especially men.
