Key Takeaways
- Mortgage rates fell again this past week, lowering the average to 6.79%—its cheapest reading of 2025.
- Rates on new 30-year fixed-rate loans averaged 6.79% on Friday—30 basis points lower than the recent weekly peak of 7.09% on Jan. 10.
- 15-year loan rates fell further below 6%, with a Friday average of 5.96% vs. 6.22% five weeks ago.
- Jumbo 30-year rates dipped slightly this week to a 6.78% average, down from a Jan. 10 peak reading of 6.95%.
- On a new loan of $350,000 with a 30-year term, today’s average rate translates into a monthly payment of $2,279. That’s down $71 per month from five weeks ago.
- See our tables below for other loan amounts and mortgage types.
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Mortgage Rates Continue Moving Lower
Though new purchase mortgage rates saw welcome declines in late November and early December, they bolted higher around Christmas—and then higher still in January. But the last five weeks have brought some welcome relief, sending the flagship 30-year average well below the 7% mark.
The most common loan types saw rates move lower over the past week, dropping them further below the peaks registered on Jan. 10. Below, you can see the 1-week and 5-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 | Jan. 10 averages | Feb. 14 averages | 1-week change | 4-week change |
|---|---|---|---|---|
| 30-Year Fixed | 7.09% | 6.79% | – 0.05 | – 0.30 |
| VA 30-Year Fixed | 6.59% | 6.32% | – 0.03 | – 0.27 |
| 20-Year Fixed | 6.99% | 6.57% | – 0.08 | – 0.42 |
| 15-Year Fixed | 6.22% | 5.96% | – 0.03 | – 0.26 |
| 10-Year Fixed | 6.24% | 5.80% | + 0.03 | – 0.44 |
| 7/6 ARM | 7.55% | 7.03% | – 0.24 | – 0.52 |
| 5/6 ARM | 7.57% | 7.14% | – 0.19 | – 0.43 |
| Jumbo 30-Year Fixed | 6.95% | 6.78% | – 0.01 | – 0.17 |
| Jumbo 15-Year Fixed | 6.93% | 6.63% | – 0.21 | – 0.30 |
| Jumbo 7/6 ARM | 7.35% | 6.90% | – 0.09 | – 0.45 |
| Jumbo 5/6 ARM | 7.31% | 7.00% | – 0.08 | – 0.31 |
30-Year Mortgage Rates Fall to Lowest Level of the Year
Rates on 30-year new purchase loans ended last week 5 basis points lower than the previous Friday, dipping to a 6.79% average. That’s now the cheapest weekly average of 2025. Compared to five weeks ago, when rates shot up to a 7-month high of 7.09%, today’s 30-year rates are a substantial 30 basis points lower.
Despite 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 surged through much of October and November and then took additional steps higher around Christmas and in January.
15-Year Mortgage Rates Sink Further Below 6%
Rates on 15-year new purchase loans edged a few basis points lower Friday-to-Friday, ending last week at a 5.96% average. That’s a 26-point improvement vs. the Jan. 10 peak of 6.22%. Like 30-year mortgages, 15-year rates sank to a two-year low in September, falling as far as 4.97% (though the lowest Friday weekly average was 5.07%).
Jumbo 30-Year Keep Near 2025 Low
Rates on jumbo 30-year new purchase loans subtracted a minimal basis point last week, resting at a Friday average of 6.78%. That’s 17 basis points below the 6.95% reading five weeks ago. Back in September, rates on new 30-year jumbo loans fell 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, Jan. 10 | 7.09% | $1,678 | $2,350 | $3,021 | $3,692 | $4,364 |
| Fri, Feb. 14 | 6.79% | $1,628 | $2,279 | $2,931 | $3,582 | $4,233 |
| 5-week change | – 0.25 | – $50 | – $71 | – $90 | – $110 | – $131 |
| 15-Year Loan Monthly Mortgage Payments | ||||||
|---|---|---|---|---|---|---|
| National average rate | $250,000 | $350,000 | $450,000 | $550,000 | $650,000 | |
| Fri, Jan. 10 | 6.22% | $2,139 | $2,995 | $3,851 | $4,707 | $5,563 |
| Fri, Feb. 14 | 5.96% | $2,104 | $2,946 | $3,788 | $4,629 | $5,471 |
| 5-week change | – 0.23 | – $35 | – $49 | – $63 | – $78 | – $92 |
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, Jan. 10 | 6.95% | $5,296 | $5,958 | $6,619 | $7,281 | $7,943 |
| Fri, Feb. 14 | 6.78% | $5,205 | $5,855 | $6,506 | $7,157 | $7,807 |
| 5-week change | – 0.16 | – $91 | – $103 | – $113 | – $124 | – $136 |
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.