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Mortgage Rates Retreat From a Major Surge

Mortgage rates have not been spared from the market chaos triggered by President Trump's on-again, off-again tariff announcements. Though an initial stock market sell-off prompted a drop in 10-year Treasury yields, which in turn pushed mortgage rates lower, that trend reversed after just two days. Bond yields then soared, 澳洲幸运5官方开奖结果体彩网:confounding many experts—and unsurprisingly sh🍰oo꧋ting mortgage rates higher.

But the roller coaster continues, as the 30-year mortgage rate average changed direction again two Fridays ago—and continued its decline this past week. You can see the tওwo-week change for each new purchase loan average below, followed by a deeper dive into ♛30-year, 15-year, and jumbo 30-year fixed-rate loans.

30-Year Mortgage Rates Continue to Drop

Rates on 30-year new purchase loans have given up 22 basis points over the last two calendar weeks. That lowers the flagship average to 6.92%—a notable improvement vs. the 7.14% average registered on April 11. Leading up to that reading, 30-year rates surged a remarkable 44 basis points, for their biggest Friday-to-Friday gain since June 2022 a🅷nd their most expensive average in almost 11 months.

Things were muchꦕ better in September, when the 30-year average plunged to a two-year low of 5.89% (the cheapest Friday average being 6.0♔3%). So far this year, the lowest weekly reading has been 6.55%.

15-Year Mortgage Rates See Strong Decline

Rates on 15-year new purchase loans have declined even more dramatically in the past two weeks, subtracting a bold 31 basis points to average 6.00%. Still, the current reading is about a percentage point above the two-year low of 4.97% registere🌼d in September.

Jumbo 30-Year Give Up More Ground

Rates on jumbo 30-year new purchase loans fell 24 basis points across two weeks, landing Friday at a 6.91% average. That's compared to a 2025 high of 7.15%. In contrast, September rates on new 30-year jumbo loans sank as far as 6.24%, with the lowest weekly average registering at 6.39%.

Here's How Much Monthly Payments Are Now

To see how much this week's rate increases would impact monthly payments for new borrowers, our tables below lay out the 澳洲幸运5官方开奖结果体彩网:principal-plus-interest payment for various loan amounts with a 30-year, 15-y✤ear, or jumb✨o 30-year fixed-rate new purchase mortgage.

By definition, jumbo 30-year mortgages are larger loans. So below we've run our calculations on loan amounts of $800,000 to $1.2 million.

How We Track Mortgage Rates

The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a 澳洲幸运5官方开奖结果体彩网:loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an a𒐪pplicant credit sco🌟re in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2025. Use is subject to the Zillow Terms of Use.