Mortgage Rates: 30-Year vs 15-Year & ARMs
Update: 2025-12-29
Description
Todays average thirty-year fixed mortgage rate is 6.01%, with fifteen-year and twenty-year options at 5.47% and 5.93% respectively. Refinance rates are slightly higher, with thirty-year refis averaging 6.09%. Homebuyers can save significantly by choosing shorter terms, like a fifteen-year loan, which totals less interest despite higher monthly payments. Adjustable-rate mortgages, like the five-one ARM, offer flexibility but are close to fixed rates. VA loans are a great option for eligible vets. To secure the best rates, improve your credit score, make a larger down payment, or pay down debt. Rates are expected to remain around 6.4% through 2026, so timing is crucial for buying or refinancing. Checkout Solipillow.com
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