As of Wednesday, May 21, 2025, the national average mortgage rate for a 30-year fixed home loan is 7.02%, according to Zillow. This rate is up slightly—just one basis point—from last week’s average of 7.01%.
Shorter-term and adjustable-rate mortgages (ARMs) moved in different directions. The average 15-year fixed rate dipped to 6.09%, while the 5-year ARM rose significantly to 7.97%.
How mortgage rates changed this week
Here’s how the most common loan types compare to last week:
- 30-year fixed: 7.02% (up 0.01%)
- 15-year fixed: 6.09% (down 0.01%)
- 5-year ARM: 7.97% (up 0.21%)
The APRs, which factor in lender fees and other costs, followed a similar pattern. The APR for a 30-year fixed loan is now 7.52%, while the 15-year stands at 6.42%.
Government-backed mortgage rates
Rates for government loans also shifted:
- FHA 30-year fixed: 7.41% (up 0.50%)
- VA 30-year fixed: 6.65% (up 0.19%)
- FHA 15-year fixed: 5.80% (up 0.09%)
- VA 15-year fixed: 6.15% (up 0.16%)
These options may benefit buyers with lower credit scores or smaller down payments.
Jumbo loan rates today
For borrowers needing larger loans that exceed conforming limits, jumbo rates are:
- 30-year fixed jumbo: 7.31% (down 0.21%)
- 15-year fixed jumbo: 6.67% (up 0.04%)
- 5-year ARM jumbo: 6.63% (down 1.00%)
Jumbo loans often carry higher interest rates, but this week’s data shows some relief for those using adjustable-rate options.
Historical mortgage rate trends
Over the past three months, rates have generally climbed. The 30-year fixed loan, for example, hovered near 6.2% in early March and has gradually increased to today’s 7.02%.
The 5-year ARM saw a sharper uptick—from 6.05% in March to nearly 8% today. Meanwhile, the 15-year fixed rate has remained more stable, fluctuating between 5.9% and 6.1%.
What affects your mortgage rate?
Rates vary based on:
- Loan type and term
- Credit score
- Down payment amount
- Loan amount and location
Buyers with a credit score above 740 and at least 20% down typically qualify for the lowest rates.
Tips to get the best mortgage rate
To secure a competitive rate, experts recommend:
- Shop around: Get quotes from multiple lenders.
- Compare fees: Look beyond interest rates to APRs and closing costs.
- Boost your credit score: Even a small improvement can lower your rate.
- Increase your down payment: Aim for 20% or more to reduce risk.
- Consider loan types: A 15-year fixed loan has a higher monthly payment but a lower rate overall.
Key takeaways
- The 30-year fixed rate is holding at 7.02%.
- The 15-year fixed is slightly down at 6.09%.
- ARMs and FHA loans saw notable rate increases.
- Shopping lenders and improving credit remain key to lowering your rate.
Mortgage rates continue to respond to broader economic factors, including inflation and Federal Reserve policy. Buyers should monitor daily changes and consult with lenders to lock in favorable terms.