A mortgage rate shows you the amount of money you’ll have to pay as a fee for borrowing funds to purchase a home, and is typically expressed as a percentage of the total amount you’ve borrowed.
Written by Rene Bermudez | Edited by Crissinda Ponder | Updated March 28, 2025The current national mortgage rates forecast indicates that rates are likely to remain high compared to recent years, and stay well above 6% for now. This week, 30-year rates went down by 0.02 percentage points, while 15-year mortgage rates rose by 0.06 percentage points.
Here are the U.S. weekly average rates from Freddie Mac’s Primary Mortgage Market Survey, as of March 27, 2025:
Mortgage rates fluctuated between 6% and 7% over the last half of 2024, finally crossing the 7% threshold for the first time in over seven months in mid-January. However, they then moved downward for seven weeks in a row. As of this week, rates are only slightly above their lowest point so far this calendar year.
At their most recent meeting on March 20, the Federal Reserve chose to hold rates steady. Since making three cuts in 2024, Fed regulators have become more concerned about inflationary pressures. As a result, they’ve indicated that we should expect two cuts in 2025.
Read more about the most recent Fed meeting and how it affects interest rates.
Senior economist |
“As long as inflation is a major concern, expect the Fed’s impact on mortgage rates to be somewhat minimal. Fed cuts might provide some temporary decreases in day-to-day average mortgage rates, but the longer-term trend is starting to look like it will be an upward one.” |
If you’re interested in taking out a mortgage, Channel’s advice is to focus on what you can afford in the current market. Don’t wait to get the “perfect” rate. It’s impossible to time the market but, ultimately, if you take on a mortgage with affordable payments, you can succeed in any market.
Loan Product | Interest Rate | APR |
|---|---|---|
| 30-year fixed rate | 7.01% | 7.21% |
| 20-year fixed rate | 6.21% | 6.37% |
| 15-year fixed rate | 6.15% | 6.49% |
| 10-year fixed rate | 6.73% | 7.32% |
| FHA 30-year fixed rate | 6.10% | 6.76% |
| 30-year 5/1 ARM | 6.39% | 6.89% |
| VA 30-year 5/1 ARM | 5.88% | 6.14% |
| VA 30-year fixed rate | 5.94% | 6.13% |
| VA 15-year fixed rate | 5.37% | 5.70% |
Average rates disclaimer
Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners over the past seven days for each combination of loan type, loan program, and loan term. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.
When buying a home, a higher mortgage interest rate will raise your monthly principal and interest payment.
For example: Let’s say you want to buy a house for $350,000. Assuming a 30-year loan term, here’s what your monthly payment could look like at different interest rates (excluding property taxes and home insurance):
Note that if you live in an HOA community or need private mortgage insurance, your monthly payment will be higher.
Use a mortgage calculator to estimate how your interest rate will affect your monthly payment.If you are purchasing your home, there are a few ways to get a lower monthly home loan payment:
Ready to estimate how much your monthly payment could be? Calculate your mortgage payment and get custom offers below.
As you comparison shop, you have two options for how to compare mortgage rates:
If you skip the crucial step of shopping around, you miss out on the opportunity to:
Lender | User ratings | LendingTree rating | Min. credit score | |
|---|---|---|---|---|
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 580 to 680 | ||
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 500 to 620 | ||
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 500 | ||
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 620 | ||
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 620 | ||
 | User reviews coming soon | 580 to 620 | ||
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User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | 580 to 620 |
Learn more about how we chose our list of the best mortgage lenders.The key to choosing a mortgage lender is to comparison shop. That means getting quotes from at least three to five lenders. It may sound like a hassle but it could save you tens of thousands of dollars.
Be sure to shop for those quotes on the same day, since mortgage interest rates change on a daily basis. And don’t forget to look at the annual percentage rate (APR) for each offer — this will show you the true cost of a given loan, including interest and fees.
Ready to get started? Learn how to apply for a mortgage today or enter your loan amount below.There are nine primary factors that determine your mortgage rate:
Read more about how interest rates are determined.
There are many ways you can get your lowest home loan interest rates:
Boost your credit score to 780 or higher. You’ll need to aim for a 780 credit score to qualify for the lowest conventional loan interest rates. Need help getting started? Learn how to improve your credit score.
Make a bigger down payment or borrow less. You’ll snag the best mortgage rates with a 780 credit score and at least a 25% down payment. A lower loan-to-value (LTV) ratio (how much of your home’s value you need to borrow) means lower home loan rate offers.
Reduce your total monthly debt load. Lenders measure your debt-to-income (DTI) ratio by dividing your total monthly debt by your before-tax income. A 43% maximum DTI ratio is a common limit. A debt consolidation calculator can estimate how much a debt consolidation loan could lower your monthly payments.
Consider an adjustable-rate mortgage (ARM). If you plan to move in a few years, an ARM loan starts with lower mortgage interest rates for a period of time. If you sell the home before that lower rate expires, you could save a lot of money in interest compared to a fixed-rate home loan.
Pick a shorter loan term. Lenders usually charge lower interest rates for shorter terms like 15-year loans. If you can afford a higher monthly payment, you’ll save thousands of dollars over the life of the loan, according to a LendingTree study. A mortgage calculator can estimate how much you might save.
Pay mortgage points. A mortgage point is an upfront fee equal to 1% of your total loan amount. (For example, if you borrowing $300,000, one point costs $3,000.) Paying for points buys you a lower home loan interest rate. Each point can usually lower your rate by 0.125% to 0.25%. For the exact cost of your mortgage point, you can check Page 2, Section A of your lender loan estimate.
Compare mortgage lenders. Comparing offers from several mortgage lenders saves you money — and not just a few dollars. A LendingTree study found that homebuyers in the nation’s largest metro areas saved an average of $84,301 over the life of their loans by comparing offers from different lenders.