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Mortgage Rates Today: June 16, 2025 – 30-Year Rates Steady, 15-Year Rates Down
- Today's mortgage rates: 30-year fixed at 6.75%, 15-year fixed at 5.74%, and 30-year jumbo at 7.03%.
- Comparison of today's rates to last week's rates: 30-year fixed down from 6.83% to 6.75%, with an APR of 6.78%.
- Average APR for a 15-year fixed mortgage is 5.79%, down from 5.9% last week.
- Considerations for 30-year fixed ($100k loan: $649/month, $134,190 total interest), 15-year fixed ($100k loan: $830/month, $49,860 total interest), and 30-year jumbo ($100k loan: $667/month, $140,622 total interest).
- Mortgage rates impacted by Federal Reserve decisions, U.S. Treasury bond yields, and global events like Covid-19.
- Federal Reserve's restrictive monetary policy contributes to higher long-term mortgage rates.
- Applying with multiple lenders within a 45-day window allows for credit history checks without affecting credit scores.
- High mortgage rates and limited housing supply contribute to elevated home prices, posing challenges for homebuyers.
- Factors influencing mortgage rates include DTI ratio, credit score, and economic indicators.
- Focus on getting rate quotes for different loan programs and considering conventional or government-backed mortgages for better rates.
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