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Mortgage Rates Climb for a Fourth Week

Mortgage rates have not been spared from the market chaos unleashed by President Donald Trump's evolving tariff policy. And now, the administratꦯion's proposed tax bill is additionally making waveꦛs in the mortgage lending market.

Two days after President Trump's early-April tariff announcements, mortgage rates surged, and then retreated for two weeks. But now they've resumed climbing again, taking a large jump higher last week as 澳洲幸运5官方开奖结果体彩网:the bond market reacted 💫to the possibility that President Trump's proposed tax bill could become law.

Experts say passing the bill 澳洲幸运5官方开奖结果体彩网:could inflate the federal deficit because it would extend substantial tax cuts and boost government spending for years. As a✨ result, investors are concerned about its potential impact on the economy, and last week's bond markets suffered as a result. The 10-year Treasury yield hit its highest mark since February, and when bond yield💞s rise, mortgage rates typically climb as well.

Below, you can see the change in rates over the past four weeks for each new purchase loౠan average. We then dive deeper into 30-year, 15-year, and jumbo 30-year fixed-rate loans.

30-Year M♊ortgage Rates Are Sitting Near a 1-Year High

After edging 3 basis points higher each of the last three weeks, rates on 30-year n𓃲ew purchase loans shot up 11 points last week. That takes the flagship average up to 7.12%, just barely below the 7.14% peak registered on April 11—its highest level in a year.

However, things were much better in September, when the 30-year average plunged to a two-year low of 5.89% (the cheapest Friday average being 6.03%). So far this year, the lowest weekly reading has been𓄧 6.55ജ%.

15-Year Mortgage R❀ates Creep Further🦂 Into 6% Territory

Rates on 15-year new purchase loans have seen a milder climb over the last four weeks, rising just 10 basis points to an average of 6.10% on Friday. That puts the current reading more than 1.1 percentage points above tꦐhe two-year low of 4.97% registered in September.

Jumbo 30-Year Rates Jump Well Above 7%

Rates on jumbo 30-year new purchase loans shot up 13 basis points last week, for a total of 19 points across four weeks. Friday's average of 7.10% is just a slight improvement vs. the 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 Today

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-ye꧋ar, 15-yea♍r, or jumbo 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 applicant credit score in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quot🐎es 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.