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Mortgage Rates Today: May 28, 2025 – Rates Stand Still
- The current average mortgage rate on a 30-year fixed mortgage is 6.9%, slightly lower compared to the previous week.
- For a 15-year fixed mortgage, the average rate is 5.90%, down by 0.87% from the previous week.
- Comparing existing mortgage rates with today's refinance rates can help borrowers lock in lower rates.
- The average APR on a 30-year fixed-rate mortgage is 6.93%, showing a slight decrease from the previous week.
- A $100,000 mortgage with a 30-year fixed-rate loan at 6.9% interest will cost around $658 per month, totaling approximately $137,771 in interest over the loan's life.
- Today's 15-year fixed-rate mortgage is at 5.9%, with borrowers paying about $839 per month for a $100,000 mortgage, totaling around $51,438 in interest.
- The average interest rate on a 30-year fixed-rate jumbo mortgage has increased to 7.55%.
- Mortgage rates fluctuated post-spring 2024 but surged in October 2024 despite Fed rate cuts.
- Various economic factors influence mortgage rates, including the Federal Reserve's decisions and global events.
- Factors affecting mortgage rates include the economy's health, benchmark interest rates, and borrower-specific factors.
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