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Mortgage Rates Today: June 24, 2025 – Rates Stand Still
- The current average mortgage rates are 6.75% for a 30-year fixed mortgage, 5.72% for a 15-year fixed mortgage, and 7.01% for a 30-year jumbo mortgage.
- This week, borrowers will pay less interest, especially on the 30-year mortgage rate which dropped from 6.81% to 6.75%.
- The APR for a 30-year fixed-rate mortgage is 6.78%, down from 6.84% last week.
- For a $100,000 30-year mortgage at 6.75%, monthly payments are around $648, totaling about $134,118 in interest over the loan's life.
- The 15-year fixed mortgage rate is at 5.72%, with monthly payments estimated at $829 on a $100,000 mortgage.
- Today's 30-year fixed-rate jumbo mortgage stands at 7.01%, down 0.97% from last week.
- Despite some decreases since January 2025, experts don't foresee significant drops in mortgage rates soon.
- Factors influencing mortgage rates include Federal Reserve decisions, U.S. Treasury bond yields, and global events like the Covid-19 pandemic.
- While major rate decreases are not expected imminently, they may decline if inflation eases or the economy weakens.
- Interested buyers can use mortgage calculators to estimate budgets before house hunting.
- Mortgage interest rates are influenced by factors like economic conditions and borrower credit.
- Conventional home loans require good credit and a 20% down payment, while government-backed loans like FHA, USDA, and VA cater to varying credit and financial circumstances.
- FHA loans offer down payments as low as 3.5% with varying credit score requirements and insurance premiums.
- USDA loans do not mandate down payments for eligible rural area residents, but guarantee fees are applicable.
- VA loans cater to qualifying military personnel with options for zero down payment and one-time funding fees.
- The article provides insights into current mortgage rates, factors affecting rates, and options for borrowers based on credit and financial situations.
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