Mortgage rates remain mostly steady heading into late June. According to Zillow, the average 30-year fixed mortgage rate sits at 6.86% as of June 24, 2025, while the 15-year fixed edged down slightly. Here’s a closer look at the latest numbers and what they mean for buyers and homeowners.
Current mortgage averages
Zillow reports the following national average rates as of Tuesday:
- 30-year fixed: 6.86% (unchanged from Monday, down 0.05% from last week)
- 15-year fixed: 5.90% (down 0.01% from Monday, 0.06% lower week-over-week)
- 5-year ARM: 7.21% (up 0.13% from last week)
Week-over-week changes
Rates showed minor movement over the past week, with notable drops in several loan types:
- 20-year fixed: 6.51% (down 0.07%)
- 10-year fixed: 5.85% (down 0.08%)
- 30-year fixed jumbo: 7.01% (down 0.26%)
- 5-year ARM jumbo: 7.30% (down 0.42%)
Government-backed loans also experienced varied shifts:
- FHA 30-year fixed: 7.75% (up 0.43%)
- VA 30-year fixed: 6.34% (down 0.07%)
What’s driving mortgage trends?
Mortgage rates continue to react to broader economic indicators, including:
- Federal Reserve rate policy and inflation trends
- Bond market yields
- Investor confidence in long-term economic growth
Though rates remain elevated compared to pre-2022 levels, relative stability in recent weeks could signal a plateau heading into summer.
How to get the best mortgage rate
Borrowers can still save money by taking strategic steps before applying for a loan:
- Shop around: Compare at least three lenders
- Check fees: Evaluate loan estimates for closing costs
- Boost your down payment: 20% or more often unlocks lower rates
- Improve credit: Higher scores typically earn better terms
- Pick the right loan: Consider 15-year fixed or ARM options if they fit your financial goals
Should you refinance or buy now?
Current rates remain historically high, but buyers with strong credit may benefit from falling 15-year and jumbo loan rates. Refinancing could also make sense for those who locked in higher variable rates previously. However, caution is key—monitor market conditions and consult a financial advisor before making a move.