<ul><li>Today’s average mortgage rate on a 30-year fixed-rate mortgage is 6.90%, up 1.47% from last week.</li><li>Consider a 15-year fixed mortgage for lower rates, although monthly payments will be higher due to the shorter loan term.</li><li>Average APR on a 15-year fixed mortgage is 5.95%; 30-year fixed-rate mortgage APR is 6.93%.</li><li>On a $100,000 loan at 6.9%, monthly payments would be around $658, totaling $137,747 in interest over the loan period.</li><li>The average interest rate for a 15-year fixed mortgage is 5.9% with a monthly cost of $838, and $51,370 in total interest.</li><li>Current average interest rate on a 30-year fixed-rate jumbo mortgage is 7.54%.</li><li>After a downward trend post-spring 2024, mortgage rates surged in October 2024 despite Fed rate cuts.</li><li>Federal Reserve decisions and global events influence mortgage rates significantly.</li><li>Mortgage rates may start declining if inflation eases or the economy weakens.</li><li>Factors affecting mortgage rates include Fed decisions, U.S. Treasury yields, and global financial disruptions.</li></ul>

Mortgage Rates Today: May 15, 2025

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