Spain Tackles Housing Crisis With Plan to Tax Non-EU Home Buyers 100%
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Mortgage and refinance interest rates today, August 3, 2025: Rates stay high
Mortgage rates are moving in different directions this weekend. According to Zillow, the 30-year fixed mortgage rate shifted up by two basis points to 6.60%. Meanwhile, the 15-year fixed rate is down 11 basis points to 5.76%. While rates have been fluctuating up and down recently, there's still been a clear increase compared to 2024. According to Zillow, 30-year and 15-year fixed mortgage rates have both gone up over 40 basis points. In July 2024, the 30-year rate was 6.12%, and the 15-year rate was 5.35%. Even so, if you are looking to buy a house, it could benefit you to lock in a mortgage now, as rates are not expected to plummet in the near future. Dig deeper: 2025 housing market — Is it a good time to buy a house? Current mortgage rates Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.60% 20-year fixed: 6.36% 15-year fixed: 5.76% 5/1 ARM: 6.91% 7/1 ARM: 7.12% 30-year VA: 6.22% 15-year VA: 5.58% 5/1 VA: 5.94% Remember, these are the national averages and rounded to the nearest hundredth. Learn more: 8 strategies for getting the lowest mortgage rates Current mortgage refinance rates These are today's mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.66% 20-year fixed: 6.09% 15-year fixed: 5.39% 5/1 ARM: 7.32% 7/1 ARM: 6.75% 30-year VA: 6.03% 15-year VA: 5.67% 5/1 VA: 6.03% Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case. Read more: Is now a good time to refinance your mortgage? Refinance interest rates Up Next Up Next Monthly mortgage payment calculator Use the mortgage calculator below to see how various mortgage terms and interest rates will impact your monthly payments. Our free mortgage calculator also considers factors like property taxes and homeowners insurance when determining your estimated monthly mortgage payment. This gives you a more realistic idea of your total monthly payment than if you just looked at mortgage principal and interest. 30-year vs. 15-year fixed mortgage rates The average 30-year mortgage rate today is 6.60%. A 30-year term is the most popular type of mortgage because by spreading out your payments over 360 months, your monthly payment is lower than with a shorter-term loan. The average 15-year mortgage rate is 5.76% today. When deciding between a 15-year and a 30-year mortgage, consider your short-term versus long-term goals. A 15-year mortgage comes with a lower interest rate than a 30-year term. This is great in the long run because you'll pay off your loan 15 years sooner, and that's 15 fewer years for interest to accumulate. But the trade-off is that your monthly payment will be higher as you pay off the same amount in half the time. Let's say you get a $300,000 mortgage. With a 30-year term and a 6.60% rate, your monthly payment toward the principal and interest would be about $1,916, and you'd pay $389,752 in interest over the life of your loan — on top of that original $300,000. If you get that same $300,000 mortgage with a 15-year term and a 5.76% rate, your monthly payment would jump to $2,493. But you'd only pay $148,711 in interest over the years. Fixed-rate vs. adjustable-rate mortgages With a fixed-rate mortgage, your rate is locked in for the entire life of your loan. You will get a new rate if you refinance your mortgage, though. An adjustable-rate mortgage keeps your rate the same for a predetermined period of time. Then, the rate will go up or down depending on several factors, such as the economy and the maximum amount your rate can change according to your contract. For example, with a 7/1 ARM, your rate would be locked in for the first seven years, then change every year for the remaining 23 years of your term. Adjustable rates typically start lower than fixed rates, but once the initial rate-lock period ends, it's possible your rate will go up. Lately, though, some fixed rates have been starting lower than adjustable rates. Talk to your lender about its rates before choosing one or the other. Dig deeper: Fixed-rate vs. adjustable-rate mortgages How to get a low mortgage rate Mortgage lenders typically give the lowest mortgage rates to people with higher down payments, great or excellent credit scores, and low debt-to-income ratios. So, if you want a lower rate, try saving more, improving your credit score, or paying down some debt before you start shopping for homes. Waiting for rates to drop probably isn't the best method to get the lowest mortgage rate right now. If you're ready to buy, focusing on your personal finances is probably the best way to lower your rate. How to choose a mortgage lender To find the best mortgage lender for your situation, apply for mortgage preapproval with three or four companies. Just be sure to apply to all of them within a short time frame — doing so will give you the most accurate comparisons and have less of an impact on your credit score. When choosing a lender, don't just compare interest rates. Look at the mortgage annual percentage rate (APR) — this factors in the interest rate, any discount points, and fees. The APR, which is also expressed as a percentage, reflects the true annual cost of borrowing money. This is probably the most important number to look at when comparing mortgage lenders. Learn more: Best mortgage lenders for first-time home buyers Current mortgage rates: FAQs What is a mortgage interest rate at right now? According to Zillow, the national average 30-year mortgage rate for purchasing a home is 6.60%, and the average 15-year mortgage rate is 5.76%. But these are national averages, so the average in your area could be different. Averages are typically higher in expensive parts of the U.S. and lower in less expensive areas. What's a good mortgage rate right now? The average 30-year fixed mortgage rate is 6.60% right now, according to Zillow. However, you might get an even better rate with an excellent credit score, sizable down payment, and low debt-to-income ratio (DTI). Are mortgage rates expected to drop? Mortgage rates aren't expected to drop drastically in the near future, though they may inch down now and then.
Yahoo
6 minutes ago
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BBC faces criticism over delay in paying court-ordered damages to Gerry Adams
The BBC has been criticised for not yet having paid court-ordered damages to former Sinn Fein president Gerry Adams. The corporation lost a major defamation case earlier this year after Mr Adams took them to court over a 2016 episode of its Spotlight programme and an accompanying online story. They contained an allegation that Mr Adams sanctioned the killing of former Sinn Fein official Denis Donaldson. Mr Adams denied any involvement. In May, a jury at the High Court in Dublin found in his favour and awarded him 100,000 euros (£84,000) after determining that was the meaning of words included in the programme and article. The BBC, which was found by the jury not to have acted in good faith nor in a fair and reasonable way, was also ordered to pay the former Sinn Fein leader's legal costs. Adam Smyth, director of BBC NI, expressed disappointment in the verdict and said the corporation believes it supplied extensive evidence to the court of the careful editorial process and journalistic diligence applied to the programme and accompanying online article. After the decision, the broadcaster's legal team was granted a stay in the payment of the full award as it took time to consider an appeal, subject to paying half the damages (50,000 euros or £42,000) and 250,000 euros (£210,000) towards solicitors' fees. In June, the BBC confirmed it would not pursue an appeal. However, it is understood that by August 1 the BBC had not paid the damages. Mr Adams previously indicated that he planned to donate what he receives to good causes. He specified that these would include for children in Gaza as well as groups in the Irish language sector and those who are homeless. A source close to Mr Adams told the PA news agency: 'The delay by the BBC is deplorable and it should move speedily towards discharging the order of the court.' A BBC spokesperson said: 'Total costs will be finalised and payable in due course.'
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Ukrainian anti-corruption agencies uncover drone procurement graft scheme
KYIV, Ukraine (AP) — Ukraine's anti-corruption agencies said they had uncovered a major graft scheme involving inflated military procurement contracts, just two days after Ukraine's parliament voted to restore the agencies' independence. In a joint statement published Saturday on social media, the National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor's Office (SAPO) said the suspects had taken bribes in a scheme that used state funds to buy drones and other military equipment at inflated prices. 'The essence of the scheme was to conclude state contracts with supplier companies at deliberately inflated prices,' the statement said, adding that offenders had received kickbacks of up to 30% of the contracts' value. The anti-corruption bodies did not identify the detainees, but said a Ukrainian lawmaker, local district and city officials, and National Guard servicemen were involved. Four people have been arrested so far, they said. The Interior Ministry said the National Guard personnel implicated in the case were removed from their positions. Drones have become a crucial asset in modern warfare for both Ukraine and Russia, enhancing military reconnaissance, precision strikes, and strategic flexibility on the battlefield. The majority of Russian military assets destroyed by Ukrainian forces, including manpower and heavy weaponry, have been targeted by drones. Drone production is also a key aspect of Kyiv's hopes to expand domestic military production and export markets. Ukrainian President Volodymyr Zelenskyy addressed the development in his nightly address on Saturday, calling the graft scheme 'absolutely immoral' and thanking the anti-corruption agencies for their work. 'Unfortunately, these corruption schemes involved the procurement of electronic warfare systems and FPV drones ... There must be full and fair accountability for this,' he said in his address, posted to X. In an earlier post, which also included photos of him meeting with the agency heads, Zelenskyy said it is 'important that anti-corruption institutions operate independently,' adding that 'the law passed on Thursday guarantees them all the tools necessary for a real fight against corruption.' The exposure of the graft scheme by NABU and SAPO came just two days after Ukraine's parliament voted to restore their independence. Ukraine's Parliament on Thursday overwhelmingly approved the bill presented by Zelenskyy, reversing his earlier contentious move that curbed their power and sparked a backlash, including street protests, a rarity in wartime. Last week's measure to place the watchdogs under the oversight of the prosecutor-general prompted rebukes from Ukrainians, the European Union and international rights groups. It raised fears that the government could meddle in investigations and potentially shield its supporters from scrutiny. Fighting entrenched corruption is crucial for Ukraine's aspirations to join the European Union and maintain access to billions of dollars of vital Western aid in the all-out war, now in its fourth year. It's also an effort that enjoys broad public support. ___ Morton reported from London. Elise Morton And Samya Kullab, The Associated Press Sign in to access your portfolio
