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- Takeaways
- Tip
- Mortgage Rates Reverse Their Course
- The 30-Year mortgage rates are moving closer to the middle of the 6-6% range
- What is the 30-Year rate in Your state?
- 15-Year Mortgage rates Slightly Lower
- The Jumbo 30-Year Rates are now lower than the 2025 high.
- What is a Jumbo Loan?
- Here's How Much Monthly Payments Are Now
- How We Track Mortgage Interest Rates
Takeaways
- After rates spiked two weeks ago for most major types of loans, mortgage rates are now trending downwards.
- Rates on new 30-year fixed-rate loans averaged 6.76% on Friday—a drop of 8 basis points over the week and now about a third of a percentage point below 2025’s peak of 7.09%.
- Rates for 15-years fell by 3 basis points, to a new average of 5.90% on Friday compared to 6.26% at Christmas.
- This week, the average rate for jumbo 30-year bonds fell 8 basis points. This is down from a high of 6.95% in 2025.
- On a new $350,000 loan with a 30-year repayment term, the average rate today would translate into a $19 lower monthly payment than last week. Other loan types and amounts are listed in our tables below.
Tip
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Mortgage Rates Reverse Their Course
Though new purchase mortgage rates saw welcome declines in late November and early December, they surged higher around Christmas—and then higher still in January. The last two months initially had some welcome news for house hunters—with the flagship 30-year average not just dipping below the 7% mark but holding firmly in 6% territory. However, rates did rise during the second week in March, with many loan types increasing by more than 20 basis points.
Most loan types attained a partial recovery last week from recent gains. Rates are still below the 2025 peak rates registered on January 10.
Below, you can view the averages for each new loan. Then, we will dive deeper into 30-year loans, 15-year loans, and jumbo 30-year loans.
| Mortgage Type | Mar. 14 averages | Mar. 21 averages | One-week change |
|---|---|---|---|
| Fixed 30-Year Rate | 6.84% | 6.76% | – 0.08 |
| FHA 30-Year Fixed | 7.15% | 7.35% | + 0.20 |
| VA 30-Year Fixed | 6.45% | 6.34% | – 0.11 |
| Fixed Rate 20 Year | 6.57% | 6.49% | – 0.08 |
| Fixed-Term 15-Year Agreement | 5.93% | 5.90% | – 0.03 |
| FHA 15-Year Fix | 6.73% | 6.80% | + 0.07 |
| Fixed Rate 10-Year Agreement | 5.97% | 5.78% | – 0.19 |
| 7/6 ARM | 7.38% | 7.34% | – 0.04 |
| 5/6 ARM | 7.29% | 7.27% | – 0.02 |
| Jumbo 30-Year Fixed | 6.85% | 6.77% | – 0.08 |
| Jumbo 15-Year Fixed | 6.74% | 6.67% | – 0.07 |
| Jumbo 7/6 ARM | 6.78% | 6.94% | + 0.16 |
| Jumbo 5/6 ARM | 6.97% | 6.93% | – 0.04 |
The 30-Year mortgage rates are moving closer to the middle of the 6-6% range
Last week, rates on 30-year new-purchase loans dropped by just 8 basis points. The previous Friday’s closing price was a basis point lower, landing at a 6.76% average. On February 28, rates averaged 6.55%. This was a low for 2025. Compared to two months ago, when rates shot up to a seven-month high of 7.09%, today's 30-year rates are 33 basis points lower.
Despite the late February–early March dip (and the recent improvement), things were better in September, when the 30-year average plunged to a two-year low of 5.89% (the cheapest Friday average being 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 in Your state?
We publish the 30-year average rate for each state and the national average rate for different loan types every business day. New York is currently the top state for 30-year rates. Tennessee has the lowest 30-year rate.
15-Year Mortgage rates Slightly Lower
Rates for 15-year new home purchase loans Last week, the average was 5.90%. This is a decrease of 3 basis points. That's a 32-point improvement vs. the Jan. 10 peak of 6.22%, but substantially above the two-year low of 4.97% registered in September.
The Jumbo 30-Year Rates are now lower than the 2025 high.
Rates for jumbo 30-year purchase loans fell 8 basis points in the last week, to an average of 6.77% on Friday. That's 18 basis points below the 2025 high of 6.95%. In September, the rates on new 30-year Jumbo loans dropped as low as 6.24 percent, with the lowest average weekly rate being 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.
| Monthly Mortgage Payments for 30-Year Loan | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 14 | 6.84% | $1,636 | $2,291 | $2,946 | $3,600 | $4,255 |
| Fri, Mar. 21 | 6.76% | $1,623 | $2,272 | $2,922 | $3,571 | $4,220 |
| One-week change | – 0.08 | – $13 | – $19 | – $24 | – $29 | – $35 |
| Monthly Mortgage Payments for a 15-Year Loan | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 14 | 5.93% | $2,100 | $2,940 | $3,780 | $4,620 | $5,461 |
| Fri, Mar. 21 | 5.90% | $2,096 | $2,935 | $3,773 | $4,612 | $5,450 |
| One-week change | – 0.03 | – $4 | – $5 | – $7 | – $8 | – $11 |
By definition, 30-year jumbo mortgages are bigger loans. So below we've run our calculations on loan amounts of $800,000 to $1.2 million.
| Jumbo 30-Year Mortgage Monthly Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | Loan of $800,000. | Loan of $900,000. | One million dollar loan | Loan of $1.1 Million | Loan of $1.2 Million | |
| Fri, Mar. 14 | 6.85% | $5,242 | $5,897 | $6,553 | $7,208 | $7,863 |
| Fri, Mar. 21 | 6.77% | $5,199 | $5,849 | $6,499 | $7,149 | $7,799 |
| One-week change | – 0.08 | – $43 | – $48 | – $54 | – $59 | – $64 |
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. Zillow’s Terms of Service apply.
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Federal Housing Finance Agency "FHFA Announces Conforming Loan Limit Values for 2025."
