Mortgage Rates Climb: What You Need to Know
Update: 2025-12-08
Description
Mortgage rates on the rise: Zillow data shows a 13 basis point increase in the thirty-year fixed rate to 6.10%, and a similar uptick in the fifteen-year fixed rate. The Federal Reserves decision on the federal funds rate this week may not immediately impact mortgage rates. Historical data suggests a more aggressive rate reduction signal could lead to lower mortgage rates. Current average rates stand at 6.10% for thirty-year fixed and 5.55% for fifteen-year fixed. ARMs are also an option. Factors like credit score, down payment, and debt-to-income ratio influence mortgage rates. Shop around and consider all options, including discount points at closing.
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