Current mortgage rates for a 30-year fixed mortgage are at 6.74%, a 15-year fixed mortgage at 5.72%, and a 30-year jumbo mortgage at 7.04%.
The APR on a 30-year fixed-rate mortgage is 6.77% and on a 15-year fixed-rate mortgage is 5.76%.
Factors influencing mortgage rates include Federal Reserve decisions, U.S. Treasury bond yields, and global events like the COVID-19 pandemic.
Borrowers can use mortgage calculators to estimate monthly payments and consider various loan options based on credit score, down payment, and loan requirements.