Rates rise | Today's mortgage and refinance rates for January 15, 2025

Average mortgage rates edged 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 moved higher.

Rates as of January 15, 2025.

The rates listed above are marketplace averages based on the assumptions shown here. Actual rates displayed on-site may vary. All rate data is accurate as of Wednesday, January 15th, 2025 at 6:30 a.m. ET.

Several factors move mortgage rates, some more impactful than others. In December, the Federal Reserve cut its key benchmark rate for a third time, yet mortgage rates have only risen since policymakers began cutting rates in the fall. 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.

Today's average 30-year fixed-mortgage rate is 7.11 percent, up 9 basis points over the last week. This time a month ago, the average rate on a 30-year fixed mortgage was lower, at 6.84 percent.

At the current average rate, you'll pay a combined $672.71 per month in principal and interest for every $100,000 you borrow. Compared to last week, that's $6.06 higher.

The average 15-year fixed-mortgage rate is 6.39 percent, up 5 basis points since the same time last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost around $865 per $100,000 borrowed.

The average rate on a 5/1 adjustable rate mortgage is 6.49 percent, up 7 basis points over the last 7 days.

Monthly payments on a 5/1 ARM at 6.49 percent would cost about $631 for each $100,000 borrowed over the initial five years.

The average jumbo mortgage rate today is 7.11 percent, up 7 basis points since the same time last week. Last month on the 15th, the average rate on a jumbo mortgage was lesser at 6.82 percent.

At the current average rate, you'll pay $672.71 per month in principal and interest for every $100,000 you borrow. That's an increase of $4.72 over what you would have paid last week.

The average 30-year fixed-refinance rate is 7.13 percent, up 8 basis points over the last seven days. A month ago, the average rate on a 30-year fixed refinance was lower at 6.85 percent.

At the current average rate, you'll pay $674.06 per month in principal and interest for every $100,000 you borrow. Compared with last week, that's $5.40 higher.

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.

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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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