Mortgage Rates for January 28, 2025
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Mortgage rates are influenced by various factors, with some having a more substantial impact than others. Despite the Federal Reserve cutting its benchmark rate three times, mortgage rates have risen since the fall when rate cuts began. The 30-year mortgage rate mirrors movements in the 10-year Treasury yield, fluctuating with economic conditions. Recent drivers of mortgage rates include inflation, political changes in the White House, and global geopolitical events. According to Greg McBride, CFA of Bankrate, current core inflation readings may help curb rising bond yields and mortgage rates in the near term.
All rate data is accurate as of January 28, 2025, at 7:30 a.m. ET.
Today’s 30-year mortgage interest rate
Today, the average 30-year fixed mortgage rate is 7.05 percent, decreasing by 6 basis points. It was higher just a month ago, at 7.01 percent. At this rate, monthly payments total $668.66 per $100,000 borrowed in principal and interest.
Today’s 15-year mortgage interest rate
The latest average rate for a 15-year fixed mortgage is 6.34 percent. At this rate, monthly payments total $862 per $100,000 borrowed.
Consumers should shop around to get the best deal. Rates below national averages are available. FreeRateUpdate.com has verified fixed mortgage rates as low as 6.625%, with a 6.712% APR available today in our mortgage lender network.
