Rates decrease as home sales slightly up - Current mortgage and refinance rates, June 27, 2025
Mortgage interest rates sunk on all loan terms compared to a week ago, according to Bankrate data. Rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans all moved lower.
Mortgage rates move as the economy and other factors shift, including the Federal Reserve's response to economic data on inflation and employment. At the Fed's latest meeting on June 18, policymakers opted to keep the benchmark federal funds rate unchanged.
“While inflation has cooled and is closer to the Fed's 2 percent target, overwhelming sentiment is that we are still in calm before the storm and the full impacts of tariffs are still to be felt,” said Dr. Selma Hepp, chief economist for Cotality, in a statement. "Similarly, the uncertain job market is keeping the Fed on the sidelines. In addition to the Fed's two mandates competing against each other, the Fed's job is complicated by remaining in the crosshairs of political pressures while trying to ensure it unequivocally maintains its much-needed independence."
| Mortgage type | Today's rate | Last week's rate | Change |
|---|---|---|---|
| 30-year fixed | 6.75% | 6.82% | -0.07% |
| 15-year fixed | 5.92% | 6.00% | -0.08% |
| 5/1 ARM | 6.08% | 6.15% | -0.07% |
| 30-year fixed jumbo | 6.82% | 6.89% | -0.07% |
Rates as of June 27, 2025.
The rates listed here are averages based on the assumptions shown here. Actual rates displayed on-site may vary. All rate data is accurate as of Friday, June 27th, 2025 at 6:30 a.m. ET.
Mortgage purchase rates
Current 30 year mortgage rate moves lower
0.07%
Today's average 30-year fixed-mortgage rate is 6.75 percent, a decrease of 7 basis points over the last seven days. This time a month ago, the average rate on a 30-year fixed mortgage was higher, at 6.93 percent.
At the current average rate, you'll pay $648.60 per month in principal and interest for every $100,000 you borrow. That's $4.66 lower, compared with last week.
15-year mortgage rate eases
0.08%
The average rate for a 15-year fixed mortgage is 5.92 percent, down 8 basis points over the last seven days.
Monthly payments on a 15-year fixed mortgage at that rate will cost around $840 per $100,000 borrowed.
5/1 ARM moves lower
0.07%
The average rate on a 5/1 adjustable rate mortgage is 6.08 percent, falling 7 basis points over the last 7 days.
Monthly payments on a 5/1 ARM at 6.08 percent would cost about $605 for each $100,000 borrowed over the initial five years.
Jumbo mortgage interest rate declines
0.07%
The average rate you'll pay for a jumbo mortgage is 6.82 percent, a decrease of 7 basis points over the last week. A month ago, the average rate on a jumbo mortgage was higher at 6.90 percent.
At today's average jumbo rate, you'll pay a combined $653.26 per month in principal and interest for every $100,000 you borrow. That's $4.67 lower, compared with last week.
Mortgage refinance rates
30-year fixed-rate refinance slides
0.04%
The average 30-year fixed-refinance rate is 6.75 percent, down 4 basis points since the same time last week. A month ago, the average rate on a 30-year fixed refinance was higher at 6.89 percent.
At the current average rate, you'll pay $648.60 per month in principal and interest for every $100,000 you borrow. That's $2.66 lower, compared with last week.
Will mortgage rates stay the same in 2025?
It’s hard to say. The Federal Reserve’s projections in June still indicated two rate cuts this year, which could have a ripple effect on mortgage rates.
“My bets are on December,” Hepp said in a panel talk at the National Association of Real Estate Editors conference this week, adding that the Fed could start signaling a cut as early as September, but inflation will keep policymakers holding rates higher for longer.
Learn more: What happens to mortgage rates in a recession?
How do today’s mortgage rates compare to historical rates?
Today’s mortgage rates aren’t far off from 7.2 percent, more or less the average of the past 40 years, according to Bankrate data. In fact, 30-year fixed rates ran mostly lower than that average in 2024, and appear to stay on a similar path for now. See how mortgage rates and mortgage payments have changed since the 1970s.
Should you refinance your mortgage this year?
Whether you refinance your mortgage hinges on a few things: your rate today, how rates might move in the future and your long-term plans. We recently ran down four scenarios in which refinancing might make sense for you today, even as rates are elevated. If you got your mortgage recently and your credit score has improved, for instance, you might still be able to get a lower rate.
You also don't necessarily need a significantly lower rate to see savings. It's important to understand what rate you qualify for and do the math for your unique situation.
Learn more: Should you wait for rates to drop a full percentage point before refinancing?
More on current mortgage rates
Methodology
The mortgage rates in this story are derived from our national rate and APR averages. Bankrate’s mortgage rates include these national rate and APR averages; Bankrate Monitor (BRM) National Index rate averages; and “top offers”:
- National rate and APR averages: Displayed as daily and weekly averages, these rates and APRs are primarily collected from the 5 largest banks and thrifts across hundreds of markets in the U.S.
- Bankrate Monitor (BRM) National Index rate averages: Reported weekly, this long-standing survey collects rates from banks and thrifts across hundreds of markets in the U.S.
- “Top offers”: Displayed daily and weekly, these are an average of the rates listed first on our rate tables as advertised by our partners. The averages shown are based on the loan type and term selected.
You can compare national average mortgage rates to top offers to see how much you could save when shopping on Bankrate. Learn more about Bankrate’s how we collect, display and report mortgage rates.
Learn more about Bankrate’s rate averages, editorial guidelines and how we make money.
