Mortgage Rates Today, Mar. 25, 2025: Rates' Current Ups and Downs
The average 30-year fixed rate mortgage is 6.73% today, an increase of 0.06% since yesterday. The 15-year fixed mortgage rate stands at 5.8%, up by 0.08%. The 30-year FHA mortgage now averages 6.03%, having risen by 0.09. Meanwhile, the 30-year jumbo mortgage rate is 7.16%, reflecting an increase of 0.1%.
The bigger picture
We've often noted that mortgage rates frequently rise when stock indices are climbing. So, it was no surprise when both increased yesterday.What drove the movement? Well, as Barron's suggests, " ... tariffs are the stock market's kryptonite." And we've seen some better-than-expected news about those over the weekend; namely, official hints that the ones due to be imposed on Apr. 2 may be more flexible than previously expected.
Still, a MarketWatch headline yesterday read, "‘Peak uncertainty’ on tariffs still looms over stock market despite Monday bounce." So, we may have grounds to hope mortgage rates (and, unfortunately, stock markets) won't keep heading higher for long.
Some economists fear that tariffs could trigger a recession later in the year, which might well be good for mortgage rates. The problem, as we suggested recently, is that they could also prove inflationary. And inflation tends to push those rates higher. Nobody can yet guess how the conflict between those two opposing forces will play out.
On Sunday, The Wall Street Journal identified a third force that might one day push mortgage rates higher. And that is the possible privatization of Fannie Mae and Freddie Mac.
The Journal's article said, "If not done carefully, some worry that privatization could drive investors to demand higher premiums in the mortgage-backed securities market. That would trickle through to borrowers in the form of higher mortgage rates."
Of course, "uncertainty" is the current buzzword on Wall Street. And none of us knows how any of these things will actually turn out. But it may be that mortgage rates won't move higher to the extent some fear, nor fall as low as others hope.
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.73% | 6.76% | +0.06% | -0.05% |
| 15-Year Fixed | 5.8% | 5.85% | +0.08% | -0.12% |
| 30-Year Fixed FHA | 6.03% | 7.23% | +0.09% | -0.08% |
| 30-Year Fixed VA | 6.08% | 6.22% | +0.08% | -0.16% |
| 30-Year Fixed USDA | 6.11% | 6.25% | +0.16% | -0.11% |
| 30-Year Fixed Jumbo | 7.16% | 7.18% | +0.1% | +0.05% |
| 5/6 Year ARM | 6.67% | 6.71% | +0.09% | -0.11% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.84% | 6.87% | +0.08% | -0.04% |
| 15-Year Fixed | 5.78% | 5.84% | +0.08% | -0.12% |
| 30-Year Fixed FHA | 6.02% | 7.22% | +0.09% | -0.08% |
| 30-Year Fixed VA | 6.12% | 6.27% | +0.08% | -0.16% |
| 5/6 Year ARM | 6.84% | 6.88% | +0.1% | +0.02% |
Coming up
Although economic reports are usually the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates — as we've seen frequently recently.
Mortgage rates today
The March consumer confidence index is likely to be the most consequential of today's reports. Markets are expecting a deterioration: to 95.0 from 98.3 previously. As is often the case, for mortgage rates, it's usually a question of the lower the better.Later in the week
There are three reports later in the week that have the most potential to move mortgage rates appreciably, depending on what they say. They are:
- Final reading of gross domestic product during the fourth quarter of 2024 (Thursday)
- February PCE price index (Friday) — The Federal Reserve's favorite gauge of inflation
- March consumer sentiment index (Friday)
We'll brief you on each of those before publication.
