Key Takeaways
- After dropping in late February to 2025 lows, mortgage rates have inched up three of the last four weeks.
- Fortunately, rates on new 30-year fixed-rate loans remain below 7%, despite a 6-basis-point rise last week. The new average is 6.82%.
- 15-year rates meanwhile fell 2 basis points Friday-to-Friday, sliding from a 5.90% average to 5.88%.
- Jumbo 30-year rates held steady at 6.77% Friday—just 12 basis points above their 2025 low.
- On a new loan of $350,000 with a 30-year term, today’s average rate translates into a monthly payment of $2,286. See our tables below for payments on other loan types and amounts.
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Mortgage Rate Movement Mixed Last Week
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 brought welcome news for house hunters—with the flagship 30-year average dipping below the 7% mark. But over the last month, rates for many loan types have crept up a bit.
Below, you can see the latest one-week changes for each new purchase loan average, followed by a deeper dive into 30-year, 15-year, and jumbo 30-year fixed-rate loans.
| Mortgage Type | Mar. 21 averages | Mar. 28 averages | 1-week change |
|---|---|---|---|
| 30-Year Fixed | 6.76% | 6.82% | + 0.06 |
| FHA 30-Year Fixed | 7.35% | 7.35% | No change |
| VA 30-Year Fixed | 6.34% | 6.35% | + 0.01 |
| 20-Year Fixed | 6.49% | 6.55% | + 0.06 |
| 15-Year Fixed | 5.90% | 5.88% | – 0.02 |
| FHA 15-Year Fixed | 6.80% | 6.80% | No change |
| 10-Year Fixed | 5.78% | 6.06% | + 0.28 |
| 7/6 ARM | 7.34% | 7.34% | No change |
| 5/6 ARM | 7.27% | 7.16% | – 0.11 |
| Jumbo 30-Year Fixed | 6.77% | 6.77% | No change |
| Jumbo 15-Year Fixed | 6.67% | 6.57% | – 0.10 |
| Jumbo 7/6 ARM | 6.94% | 6.89% | – 0.05 |
| Jumbo 5/6 ARM | 6.93% | 6.96% | + 0.03 |
30-Year Mortgage Rates Inch Up, but Remain in 6% Range
Rates on 30-year new purchase loans ended last week 6 basis points higher than the prior Friday, landing at a 6.82% average. That’s notably up from four weeks ago when rates fell to 6.55%—a low point for 2025. Still, today’s 30-year rates are more than a quarter percentage point cheaper than two months ago, when rates shot up to a seven-month high of 7.09%.
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 bolted higher in October and November and then took additional steps higher around Christmas and in January.
15-Year Mortgage Rates Slide Lower
Rates on 15-year new purchase loans moved the other way last week, giving up 2 basis points to end last week at a 5.88% average. That’s a 34-point improvement vs. the Jan. 10 peak of 6.22%, but substantially above the two-year low of 4.97% registered in September.
Jumbo 30-Year Rates Hold Steady
Rates on jumbo 30-year new purchase loans marched in place over the past week, holding Friday at a 6.77% average. That’s 18 basis points below the 2025 high of 6.95%. In contrast, September rates on new 30-year jumbo loans sank as far as 6.24%, with the lowest weekly average registering at 6.39%.
What’s 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.
| 30-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 21 | 6.76% | $1,623 | $2,272 | $2,922 | $3,571 | $4,220 |
| Fri, Mar. 28 | 6.82% | $1,633 | $2,286 | $2,940 | $3,593 | $4,246 |
| 1-week change | + 0.06 | + $10 | + $14 | + $18 | + $22 | + $26 |
| 15-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Mar. 21 | 5.90% | $2,096 | $2,935 | $3,773 | $4,612 | $5,450 |
| Fri, Mar. 28 | 5.88% | $2,093 | $2,931 | $3,768 | $4,606 | $5,443 |
| 1-week change | – 0.02 | – $3 | – $4 | – $5 | – $6 | – $7 |
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 | $800,000 loan | $900,000 loan | $1 million loan | $1.1 million loan | $1.2 million loan | |
| Fri, Mar. 21 | 6.77% | $5,199 | $5,849 | $6,499 | $7,149 | $7,799 |
| Fri, Mar. 28 | 6.77% | $5,199 | $5,849 | $6,499 | $7,149 | $7,799 |
| 1-week change | No change | + $0 | + $0 | + $0 | + $0 | + $0 |
How We Track Mortgage 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 resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2024. Use is subject to the Zillow Terms of Use.