Mortgage Rates Hit New Low, Best Time to Buy or Refi
Update: 2026-01-01
Description
Mortgage rates have reached a new one-year low, with the average thirty-year fixed rate at 6.15%, down from 6.91% last year. Fifteen-year fixed rates also dropped to 5.44%. These rates, which started the year near 7%, are now at their lowest point in 2025. Lower rates mean more affordable monthly payments, potentially bringing more people into the housing market. Refinance rates are slightly higher, with thirty-year fixed at 6.18% and fifteen-year at 5.53%. VA loans offer even better rates, like 5.58% for thirty-year purchase. Experts advise shopping around for the best deal and considering the impact of the economy, credit score, and down payment size on rates. With rates easing, now might be a good time to buy or refinance if it fits your plans. Checkout Solipillow.com
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