Rates increase | Current mortgage and refinance rates for January 10, 2025

National mortgage rates moved higher for all types of loans compared to a week ago, according to Bankrate data. Rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans edged higher.

Rates accurate as of January 10, 2025.

These rates are averages based on the assumptions indicated here. Actual rates listed across the site may vary. All rate data is accurate as of Friday, January 10th, 2025 at 6:30 a.m. ET.

Several factors move mortgage rates, some more impactful than others. The Federal Reserve capped off 2024 with a third rate cut, yet mortgage rates have only climbed. The next Fed announcement comes Jan. 29.

Thirty-year mortgage rates tend to track the 10-year Treasury yield, which shifts continuously alongside the economy and the forces that shape it. More recently, rates have been driven by factors like inflation, a changing White House and geopolitical developments abroad.

The average rate for a 30-year fixed mortgage for today is 7.03 percent, an increase of 8 basis points over the last seven days. This time a month ago, the average rate on a 30-year fixed mortgage was lower, at 6.73 percent.

At the current average rate, you'll pay principal and interest of $667.32 for every $100,000 you borrow. That's $5.37 higher compared with last week.

Use our mortgage calculator to approximate your monthly payments and see how much you’ll save by adding extra payments. Our tool will also help you calculate how much interest you’ll pay over the life of your loan.

The average rate you'll pay for a 15-year fixed mortgage is 6.34 percent, up 6 basis points over the last seven days.

Monthly payments on a 15-year fixed mortgage at that rate will cost roughly $862 per $100,000 borrowed.

The average rate on a 5/1 ARM is 6.55 percent, adding 3 basis points over the last 7 days.

Monthly payments on a 5/1 ARM at 6.55 percent would cost about $635 for each $100,000 borrowed over the initial five years.

The average rate for a jumbo mortgage is 7.11 percent, up 8 basis points over the last week. This time a month ago, jumbo mortgages' average rate was lesser at 6.82 percent.

At today's average jumbo rate, you'll pay principal and interest of $672.71 for every $100,000 you borrow. That's an extra $5.39 compared with last week.

The average 30-year fixed-refinance rate is 7.03 percent, up 4 basis points over the last week. A month ago, the average rate on a 30-year fixed refinance was lower at 6.74 percent.

At the current average rate, you'll pay $667.32 per month in principal and interest for every $100,000 you borrow. That's an increase of $2.69 over what you would have paid last week.

Mortgage rates aren’t as high now as they were earlier in 2024, but they’re nowhere near as low as they were in the pandemic years. The average 30-year fixed rate was 7.04 percent as of Dec. 31, according to Bankrate’s survey of lenders.

For now, experts anticipate more of the same in 2025.

“The average 30-year fixed mortgage rate will spend most of the year in the 6s, with a short-lived spike above 7 percent, but never getting below 6 percent,” said Greg McBride, CFA, chief financial analyst for Bankrate, in his 2025 forecast.

• Expert poll: Mortgage rate trend predictions for this week
• The latest mortgage news for this week
• Compare mortgage rates for today

Bankrate displays two sets of rate averages that are produced from two surveys we conduct: one daily (“overnight averages”) and the other weekly (“Bankrate Monitor averages”).

The rates on this page represent our overnight averages. For these averages, APRs and rates are based on no existing relationship or automatic payments.

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