kupicoo / Getty Images
Takeaways
- After a few weeks of steadily increasing mortgage rates, the trend shifted last week to the opposite direction, with the average rate for almost all loan types falling.
- Rates on 30-year fixed-rate new loans fell below 7%. The average rate for the week was 6.70%.
- The 15-year rate fell 11 basis point from Friday to Saturday, falling from a 5.88% on average to 5.77%.
- Jumbo 30-year rates slipped 6 basis points to a 6.71% Friday reading—just 6 basis points above their 2025 low.
- The new rates on a new loan for $350,000 over a term of 30 years translate into a payment of $2258 per month. For payments on other loan amounts and types, please see our tables below.
Tip
Are you looking for a refinance rate on a mortgage that you already have? We cover refinancing each business day. This includes the national average refi rates for all major loan types as well as state by state refi averages.
The full article can be found below these offers.
Mortgage rates fell last week
Mortgage rates provided one glimmer of positive financial news last week, amidst the market chaos triggered by President Trump's mid-week tariff announcement. The rates for new home loans have declined almost everywhere on a Friday to Friday basis after rising three out of four previous weeks.
Below, you can see the latest weekly change for each new loan average. Next, we’ll take a closer look at 30-year, jumbo-term fixed-rate loans, and 15-year loans.
| Mortgage Type | Mar. 28 averages | Apr 4 averages | Changes for 1 week |
|---|---|---|---|
| Fixed 30-Year Rate | 6.82% | 6.70% | – 0.12 |
| FHA 30-Year fixed | 7.35% | 7.04% | – 0.31 |
| VA 30-Year Fixed | 6.35% | 6.22% | – 0.13 |
| Fixed 20-Year Rate | 6.55% | 6.27% | – 0.28 |
| Fixed-Term 15-Year Agreement | 5.88% | 5.77% | – 0.11 |
| FHA 15 Year Fixed | 6.80% | 6.32% | – 0.48 |
| Fixed 10-Year Rate | 6.06% | 5.51% | – 0.55 |
| 7/6 ARM | 7.34% | 6.97% | – 0.37 |
| 5/6 ARM | 7.16% | 7.10% | – 0.06 |
| Jumbo 30-Year Fixed | 6.77% | 6.71% | – 0.06 |
| Jumbo 15-Year Fixed | 6.57% | 6.66% | + 0.09 |
| Jumbo 7/6 ARM | 6.89% | 6.93% | + 0.04 |
| Jumbo 5/6 ARM | 6.96% | 7.28% | + 0.32 |
30-Year Mortgage rates fall
Last week, rates on 30-year new purchases loans fell by a notable 12 basis point to a 6.70% Friday average. That's still slightly higher than the end of February, when rates fell to 6.55%—a low point for 2025. But today's 30-year rates are almost 40 basis points cheaper than two months ago, when rates shot up to an eight-month high of 7.09%.
In September, the 30-year average fell to a 2-year low of 5.89%. (The cheapest Friday average was 6.03%.) But rates soared in November and October, and then continued to rise around Christmas and into January.
What is the 30-Year Rate of Your State?
We publish the national rate averages of various loan types as well as the 30-year rate averages of each state every day. New York and Florida currently have the lowest 30-year interest rates.
15-Year Mortgage rates are on the decline
Rates for 15-year new home purchase loans Last week, the average rate of 5.77% was also down. That's a 45-point improvement vs. the 2025 peak of 6.22%, but still substantially above the two-year low of 4.97% registered in September.
Jumbo 30-Year Rates Inch Down
The average rate for jumbo 30 year new purchase loans fell 6 basis points compared to last week. That's almost a quarter percentage point below the 2025 high of 6.95%. Rates on new 30-year Jumbo Loans fell as low as 6.24% in September, with the lowest average weekly rate at 6.39%.
What is 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.
| Mortgage Payments for a 30-Year Loan | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 28 | 6.82% | $1,633 | $2,286 | $2,940 | $3,593 | $4,246 |
| Fri, Apr. 4 | 6.70% | $1,613 | $2,258 | $2,904 | $3,549 | $4,194 |
| Changes for 1 week | – 0.12 | – $20 | – $28 | – $36 | – $44 | – $52 |
| Monthly Mortgage Payments for a 15-Year Loan | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 28 | 5.88% | $2,093 | $2,931 | $3,768 | $4,606 | $5,443 |
| Fri, Apr. 4 | 5.77% | $2,079 | $2,910 | $3,742 | $4,573 | $5,405 |
| Changes for 1 week | – 0.11 | – $14 | – $21 | – $26 | – $33 | – $38 |
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 | Loans up to $800,000. | Loan of $900,000. | Loan of $1 Million | $1 Million Loan | A $1.2 million Loan | |
| Fri, Mar. 28 | 6.77% | $5,199 | $5,849 | $6,499 | $7,149 | $7,799 |
| Fri, Apr. 4 | 6.71% | $5,168 | $5,813 | $6,459 | $7,105 | $7,751 |
| Changes for 1 week | – 0.06 | – $31 | – $36 | – $40 | – $44 | – $48 |
How We Track Mortgage Interest 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 rates are what borrowers can expect to receive from lenders when they get quotes based on their qualifications. These rates may differ from teaser rates advertised. © Zillow, Inc., 2024. The Zillow Terms and Conditions of Use apply.
Article Sources Investopedia asks writers to use primary resources to support their writing. White papers, government statistics, original reporting and interviews with industry professionals are all examples. Where appropriate, we also reference original research by other reputable publishers. Our website contains more information about the standards that we use to produce accurate, unbiased content. Editorial Policy
Federal Housing Finance Agency "FHFA Announces Conforming Loan Limit Values for 2025."
