The national average 30-year fixed mortgage rate rose to 7.14% on May 22, 2025, according to data from Zillow. That’s an increase of 13 basis points from last week’s average of 7.01%, continuing an upward trend in borrowing costs that began earlier this spring.
Latest mortgage rates as of May 22, 2025
Here’s how today’s average mortgage rates compare:
- 30-year fixed: 7.14% (↑ 0.13%) | APR: 7.60%
- 15-year fixed: 6.15% (↑ 0.05%) | APR: 6.45%
- 5-year ARM: 8.04% (↑ 0.26%) | APR: 8.20%
Among government-backed loans, FHA 30-year fixed rates dropped 0.79% to 6.12%, while VA loans rose to 6.63%.
Jumbo loans saw mixed results. The 30-year fixed jumbo rate dipped slightly to 7.50%, while 5-year ARM jumbo loans jumped by 0.70% to 8.32%.
Weekly mortgage rate trends
Over the past week, rates have shifted upward across most loan types:
| Loan Type | Rate Change |
|---|---|
| 30-Year Fixed | +0.13% |
| 15-Year Fixed | +0.05% |
| 5-Year ARM | +0.26% |
| FHA 30-Year Fixed | −0.79% |
| VA 30-Year Fixed | +0.18% |
These increases are influenced by ongoing inflation concerns, Federal Reserve policy outlooks, and bond market activity.
What’s a good mortgage rate?
The best mortgage rate depends on your credit profile, down payment size, and loan type. Fixed-rate loans offer long-term stability, while adjustable-rate mortgages (ARMs) may start with lower rates but fluctuate over time.
For example:
- 30-year fixed: Stable payments, higher long-term interest.
- 15-year fixed: Lower rates, higher monthly payments.
- 5/1 or 7/1 ARM: Lower initial rate, but variable after intro period.
How to secure a lower mortgage rate
Homebuyers can reduce their mortgage rate by:
- Shopping around: Compare rates from at least three lenders.
- Improving credit: Higher credit scores qualify for better rates.
- Increasing the down payment: A 20% or greater down payment may unlock lower tiers.
- Evaluating loan options: Consider fixed vs. adjustable loans based on your plans.
What happens next?
Mortgage rates are expected to remain volatile through mid-2025. Experts recommend locking in rates when favorable, especially for buyers close to closing.
Homebuyers and refinancers should monitor daily changes and seek quotes personalized to their credit and financial profile.