Key Takeaways
- After falling for three straight weeks, mortgage rates are holding in a range just slightly higher—keeping near their lowest levels since early December.
- Rates on new 30-year fixed-rate loans averaged 6.60% on Friday—a small rise of 5 basis points over the week and about a half percentage point below the 2025 weekly peak of 7.09%.
- 15-year loan rates also inched just 5 basis points higher last week, to a new Friday average of 5.73% vs. 6.22% in mid-January.
- Jumbo 30-year rates only tacked on 2 basis points this week, averaging 6.67%. That’s down from a 2025 high of 6.95%.
- On a new loan of $350,000 with a 30-year term, today’s average rate translates into a monthly payment of $2,235. That’s down $115 per month from the January peak.
- See our tables below for other loan amounts and mortgage types.
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Mortgage Rates Continue Sinking
Though new purchase mortgage rates saw welcome declines in late November and early December, they surged higher around Christmas—and then higher still in January. But the last two months have brought some welcome news for house hunters—with the flagship 30-year average not just dipping below the 7% mark but sitting firmly in mid-6% territory.
The most common loan types saw rates inch up just barely from the previous week, leaving them close to their lowest levels since early December. That also means rates are significantly below the 2025 peaks registered on Jan. 10.
Below, you can see the 1-week and 2-month changes for each new purchase loan average, followed by a deeper dive into 30-year, 15-year, and jumbo 30-year fixed-rate loans.
| Mortgage Type | Jan. 10 averages | Mar. 7 averages | 1-week change | 2-month change |
|---|---|---|---|---|
| 30-Year Fixed | 7.09% | 6.60% | + 0.05 | – 0.49 |
| VA 30-Year Fixed | 6.59% | 6.12% | + 0.06 | – 0.47 |
| 20-Year Fixed | 6.99% | 6.31% | + 0.04 | – 0.68 |
| 15-Year Fixed | 6.22% | 5.73% | + 0.05 | – 0.49 |
| 10-Year Fixed | 6.24% | 5.56% | – 0.05 | – 0.68 |
| 7/6 ARM | 7.55% | 7.00% | – 0.11 | – 0.55 |
| 5/6 ARM | 7.57% | 7.03% | – 0.12 | – 0.54 |
| Jumbo 30-Year Fixed | 6.95% | 6.67% | + 0.02 | – 0.28 |
| Jumbo 15-Year Fixed | 6.93% | 6.43% | – 0.29 | – 0.50 |
| Jumbo 7/6 ARM | 7.35% | 6.87% | – 0.13 | – 0.48 |
| Jumbo 5/6 ARM | 7.31% | 6.94% | – 0.06 | – 0.37 |
30-Year Mortgage Rates Holding in Mid-6% Range
Rates on 30-year new purchase loans ended last week just 5 basis points higher than the prior Friday, landing at a 6.60% average. The previous week’s reading of 6.55% had set a new low point for 2025. Compared to eight weeks ago, when rates shot up to a 7-month high of 7.09%, today’s 30-year rates are a substantial 49 basis points lower.
Despite the recent improvement, things were better in September, when the 30-year average plunged to a two-year low of 5.89% (the cheapest Friday average being 6.03%). But rates bolted higher in October and November, and then took additional steps higher around Christmas and in January.
15-Year Mortgage Rates Keep Near 2025 Low
Rates on 15-year new purchase loans also edged up 5 basis points, ending last week at a 5.73% average. That’s similarly a 49-point improvement vs. the Jan. 10 peak of 6.22%. Like 30-year mortgages, 15-year rates sank to a two-year low in September, falling as far as 4.97% (though the lowest Friday weekly average was 5.07%).
Jumbo 30-Year Rates Hovering Near 3-Month Low
Rates on jumbo 30-year new purchase loans ticked up just 2 basis points last week, resting at a Friday average of 6.67%. That’s 28 basis points below the 2025 high of 6.95%. But back in September, rates on new 30-year jumbo loans fell as far as 6.24%, with the lowest weekly average registering at 6.39%.
What’s a jumbo loan?
A jumbo mortgage is one that exceeds the maximum loan limits for Fannie Mae and Freddie Mac conforming loans—$806,500 for single-family homes in most parts of the U.S. in 2025, but up to $1,209,750 in certain more expensive areas.
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 principal-plus-interest payment for various loan amounts with a 30-year, 15-year, or jumbo 30-year fixed-rate new purchase mortgage.
| 30-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Jan. 10 | 7.09% | $1,678 | $2,350 | $3,021 | $3,692 | $4,364 |
| Fri, Mar. 7 | 6.60% | $1,597 | $2,235 | $2,874 | $3,513 | $4,151 |
| Change from 2025 peak | – 0.49 | – $81 | – $115 | – $147 | – $179 | – $213 |
| 15-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Jan. 10 | 6.22% | $2,139 | $2,995 | $3,851 | $4,707 | $5,563 |
| Fri, Mar. 7 | 5.73% | $2,073 | $2,903 | $3,732 | $4,561 | $5,391 |
| Change from 2025 peak | – 0.49 | – $66 | – $92 | – $119 | – $146 | – $172 |
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 | ||||||
|---|---|---|---|---|---|---|
| National average rate | $800,000 loan | $900,000 loan | $1 million loan | $1.1 million loan | $1.2 million loan | |
| Fri, Jan. 10 | 6.95% | $5,296 | $5,958 | $6,619 | $7,281 | $7,943 |
| Fri, Mar. 7 | 6.67% | $5,146 | $5,790 | $6,433 | $7,076 | $7,719 |
| Change from 2025 peak | – 0.28 | – $150 | – $168 | – $186 | – $205 | – $224 |
How We Track Mortgage Rates
The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a 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 quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2024. Use is subject to the Zillow Terms of Use.
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