As of Sunday, May 4, 2025, today's mortgage rates are generally in the high 6% range for a 30-year fixed mortgage. Specifically:
- The average 30-year fixed mortgage rate is around 6.70% to 6.85%, depending on the source. Zillow reports about 6.70%, while Bankrate's national average is approximately 6.85% APR
- The 15-year fixed mortgage rate averages around 5.95% to 6.05% APR
- Adjustable-rate mortgages (ARMs) such as 5/1 and 7/1 ARMs are slightly higher, with rates around 6.88% to 7.13%
- Rates have recently increased slightly due to a strong April jobs report but may fluctuate depending on Federal Reserve commentary this week
In summary, expect 30-year fixed mortgage rates near 6.7% to 6.85% and 15-year fixed rates near 6%, with some variability based on lender and loan type. Rates remain elevated but below 7%, influenced by economic data and Fed policy expectations
