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Mortgage Rates Halt Their Recent Surꦜge, Falling for Almost Every Loan Type

Just over a week ago, mortgage rates took a large jump higher as 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 since it would extend substantial tax cuts💙 and boost government spending for years. That mere prospect shot 10-year Treasury yields higher—and i𒆙n turn, caused a mortgage rate surge.

But in the five market days since, mortgage rates have retreated every day but one, dropping the major new purchase averages back to 3-week and 🅰4-week lows.

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

Week🎀ly Change of New Pur🐭chase Mortgage Rates by Loan Type

30-Year Mortgage Rates Have Erased the Trump Tax Bill Bump—And Then So﷽me

After shooting up to 7.12% to end the week on May 23, rates on 30-year new purchase loans saw their rate momentum shift last week. Retreating 13 points, the flagship averag🐓e is back down to 6.99%—its cheapest level in three weeks.

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, th⛎e lowest weekly reading has been 6.55%.

15-Year Mortgage Rates Drop Back Near 6%

Rates on 15-year new purchase loans fell a milder 9 basis points last week, dropping to an average of 6.01% on Friday. That's a full 30 basis points below the 2025 high of 6.31%. But it's also more than a percentage point above the two-year low of 4.97% registered in September (with a 5.07% low among Friday weekly averages).

Jumbo 30-Year Rates Sink Under 7% Again

Rates on jumbo 30-year new purchase loans fell a bold 14 basis points last week, pushing the average back below the 7% threshold. Friday's reading of 6.96% is an 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-year, 15-year, or jumbﷺo 3𒁃0-year fixed-rate new purchase mortgage.

30-Year Loan Monthly Mortgage Payments

15-Year Loan Monthly Mortgage Payments

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.

Jumbo 30-Year Loan Monthly Mortgage Payments

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 borrowe🥃rs should expect when receiving quotes from lenders based on their quali💖fications, which may vary from advertised teaser rates. © Zillow, Inc., 2025. Use is subject to the Zillow Terms of Use.