Key Takeaways
- Mortgage rates eased lower last week, after previously shooting up in the wake of President Trump’s various tariff announcements.
- Rates on new 30-year fixed-rate loans fell 18 basis points across the week to dip back below the 7% mark, averaging 6.96% Friday.
- 15-year rates dropped a bit more, subtracting a bold 20 basis points from Friday-to-Friday to reach a 6.11% average by week’s end.
- Jumbo 30-year rates also fell, but by a lesser 14 basis points to a 7.01% Friday reading.
- On a new loan of $350,000 with a 30-year term, today’s new rates translate into a monthly payment of $2,319—$43 cheaper than last week. See our tables below for other loan types and amounts.
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Mortgage Rates Retreat From a Major Surge
Mortgage rates have not been spared from the market chaos triggered by President Trump’s on-again, off-again tariff announcements. Though an initial stock market sell-off prompted a drop in 10-year Treasury yields, which in turn pushed mortgage rates lower, that trend reversed after just two days. Bond yields then soared, confounding many experts—and unsurprisingly shooting mortgage rates higher.
But the roller coaster continues, as the 30-year mortgage rate average changed direction again last week. You can see the latest one-week change for each new purchase loan average below, followed by a deeper dive into 30-year, 15-year, and jumbo 30-year fixed-rate loans.
| Mortgage Type | Apr 11 averages | Apr 18 averages | 1-week change |
|---|---|---|---|
| 30-Year Fixed | 7.14% | 6.96% | – 0.18 |
| FHA 30-Year Fixed | 7.04% | 7.37% | No change |
| VA 30-Year Fixed | 6.81% | 6.66% | – 0.15 |
| 20-Year Fixed | 7.09% | 6.87% | – 0.22 |
| 15-Year Fixed | 6.31% | 6.11% | – 0.20 |
| FHA 15-Year Fixed | 6.32% | 6.82% | No change |
| 10-Year Fixed | 6.69% | 5.97% | – 0.72 |
| 7/6 ARM | 7.34% | 7.34% | + 0.00 |
| 5/6 ARM | 7.22% | 7.23% | + 0.01 |
| Jumbo 30-Year Fixed | 7.15% | 7.01% | – 0.14 |
| Jumbo 15-Year Fixed | 7.07% | 6.61% | – 0.46 |
| Jumbo 7/6 ARM | 7.59% | 7.71% | + 0.12 |
| Jumbo 5/6 ARM | 7.77% | 7.49% | – 0.28 |
30-Year Mortgage Rates Fall
Rates on 30-year new purchase loans dropped 20 basis points across the first three days last week, before creeping up a minimal 2 basis points over Thursday and Friday. That brings the flagship average to 6.96%—a notable improvement vs. the 7.14% average of the previous Friday. During that prior week, 30-year rates shot up a remarkable 44 basis points, for their biggest Friday-to-Friday gain since June 2022 and their most expensive average in almost 11 months.
Things were much better in September, when the 30-year average plunged to a two-year low of 5.89% (the cheapest Friday average being 6.03%). So far this year, the lowest weekly reading has been 6.55%.
15-Year Mortgage Rates Subtract Two-Tenths of a Point
Rates on 15-year new purchase loans also declined last week, subtracting a bold 20 basis points to average 6.11%—compared to 6.31% a week earlier. Still, the current reading is almost 1.15 percentage points above the two-year low of 4.97% registered in September.
Jumbo 30-Year Give Up Some Ground
Rates on jumbo 30-year new purchase loans fell 14 basis points last week, landing Friday at a 7.01% average. That’s compared to a 2025 high of 7.15%. 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 loan | $350,000 loan | $450,000 loan | $550,000 loan | $650,000 loan | |
| Fri, Apr. 11 | 7.14% | $1,687 | $2,362 | $3,036 | $3,711 | $4,386 |
| Fri, Apr. 18 | 6.96% | $1,657 | $2,319 | $2,982 | $3,644 | $4,307 |
| 1-week change | – 0.18 | – $30 | – $43 | – $54 | – $67 | – $79 |
| 15-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 loan | $350,000 loan | $450,000 loan | $550,000 loan | $650,000 loan | |
| Fri, Apr. 11 | 6.31% | $2,152 | $3,012 | $3,873 | $4,734 | $5,595 |
| Fri, Apr. 18 | 6.11% | $2,125 | $2,974 | $3,824 | $4,674 | $5,524 |
| 1-week change | – 0.20 | – $27 | – $38 | – $49 | – $60 | – $71 |
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, Apr. 11 | 7.15% | $5,403 | $6,079 | $6,754 | $7,429 | $8,105 |
| Fri, Apr. 18 | 7.01% | $5,328 | $5,994 | $6,660 | $7,326 | $7,992 |
| 1-week change | – 0.14 | – $75 | – $85 | – $94 | – $103 | – $11311 |
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., 2025. Use is subject to the Zillow Terms of Use.