Mortgage and refinance interest rates today for July 21, 2025: Rates have increased since last July
Rates have increased since this time last year. In July 2024, the average 30-year fixed mortgage rate was 6.58% while the average 15-year fixed mortgage rate was 5.86%. Many people expected rates to fall this year, but that hasn't been the case. This is a good example of why home buyers should buy a house when the timing works for them, rather than following interest rate trends.
Read next: Best mortgage lenders for first-time buyers
Current mortgage rates
Here are the current mortgage rates, according to the latest Zillow data:
30-year fixed: 6.72%
20-year fixed: 6.52%
15-year fixed: 5.97%
5/1 ARM: 7.42%
7/1 ARM: 7.4%
30-year VA: 6.33%
15-year VA: 5.69%
5/1 VA: 6.49%
Remember, these are the national averages and rounded to the nearest hundredth.
Current mortgage refinance rates
These are today's mortgage refinance rates, according to the latest Zillow data:
30-year fixed: 6.70%
20-year fixed: 6.60%
15-year fixed: 5.67%
5/1 ARM: 7.59%
7/1 ARM: 7.46%
30-year VA: 6.32%
15-year VA: 6.15%
5/1 VA: 6.43%
Again, the numbers provided are national averages rounded to the nearest hundredth. Although it's not always the case, mortgage refinance rates tend to be a little higher than purchase rates.
Read more: The best mortgage refinance lenders right now
Refinance interest rates
Up Next
Up Next
Mortgage payment calculator
You can use the free Yahoo Finance mortgage calculator to play around with how different terms and rates will affect your monthly payment. Our calculator considers factors like property taxes and homeowners insurance when estimating your monthly mortgage payment. This gives you a better idea of your total monthly payment than if you just looked at mortgage principal and interest.
But if you want a quick, simple way to see how today's rates would impact your monthly mortgage payment, try out the calculator below:
30-year mortgage rates today
Today's average 30-year mortgage rate is 6.72%. A 30-year term is the most popular type of mortgage because by spreading out your payments over 360 months, your monthly payment is relatively low.
If you had a $300,000 mortgage with a 30-year term and a 6.72% rate, your monthly payment toward the principal and interest would be about $1,940, and you'd pay $398,334 in interest over the life of your loan — on top of that original $300,000.
15-year mortgage rates today
The average 15-year mortgage rate is 5.97% today. Several factors must be considered when deciding between a 15-year and 30-year mortgage.
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 compound.
However, your monthly payments will be higher because you're squeezing the same debt payoff into half the time.
If you get that same $300,000 mortgage but with a 15-year term and a 6.72% rate, your monthly payment would jump up to $2,527 — but you'd only pay $154,808 in interest over the years.
Dig deeper: How much house can I afford? Use our home affordability calculator.
Adjustable mortgage rates
With an adjustable-rate mortgage, your rate is locked in for a set period of time and then increases or decreases periodically. For example, with a 5/1 ARM, your rate stays the same for the first five years, then changes every year.
Adjustable rates usually start lower than fixed rates, but you run the risk that your rate goes up once the introductory rate-lock period is over. But an ARM could be a good fit if you plan to sell the home before your rate-lock period ends — that way, you pay a lower rate without worrying about it rising later.
Lately, ARM rates have occasionally been similar to or higher than fixed rates. Before dedicating yourself to a fixed or adjustable mortgage rate, be sure to shop around for the best lenders and rates. Some will offer more competitive adjustable rates than others.
How to get a low mortgage rate
Mortgage lenders typically give the lowest mortgage rates to people with higher down payments, 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.
You can also buy down your interest rate permanently by paying for discount points at closing. A temporary interest rate buydown (as mentioned early in the article) is also an option — for example, maybe you get a 6.5% rate with a 2-1 buydown. Your rate would start at 4.5% for year one, increase to 5.5% for year two, then settle in at 6.5% for the remainder of your term.
Just consider whether these buydowns are worth the extra money at closing. Ask yourself if you'll stay in the home long enough that the amount you save with a lower rate offsets the cost of buying down your rate before making your decision.
Mortgage rates today: FAQs
What are interest rates today?
Here are interest rates for some of the most popular mortgage terms: According to Zillow data, the national average 30-year fixed rate is 6.72%, the 15-year fixed rate is 5.97%, and the 5/1 ARM rate is 7.42%.
What is a normal mortgage rate right now?
A normal mortgage rate on a 30-year fixed loan is 6.72%. However, keep in mind that's the national average based on Zillow data. The average might be higher or lower depending on where you live in the U.S.
Will mortgage rates drop down?
Mortgage rates probably won't drop significantly in 2025 — especially over the next several weeks while economists keep an eye on inflation, tariffs, and the Federal Reserve.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 minutes ago
- Yahoo
WSFS Financial Second Quarter 2025 Earnings: EPS Beats Expectations
WSFS Financial (NASDAQ:WSFS) Second Quarter 2025 Results Key Financial Results Revenue: US$254.9m (up 3.5% from 2Q 2024). Net income: US$72.3m (up 4.4% from 2Q 2024). Profit margin: 28% (in line with 2Q 2024). EPS: US$1.27 (up from US$1.16 in 2Q 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period WSFS Financial EPS Beats Expectations Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%. Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Banks industry in the US. Performance of the American Banks industry. The company's shares are down 3.1% from a week ago. Balance Sheet Analysis While earnings are important, another area to consider is the balance sheet. We have a graphic representation of WSFS Financial's balance sheet and an in-depth analysis of the company's financial position. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
4 minutes ago
- Yahoo
Why Is Wall Street So Bearish on Lucid Group? There's 1 Key Reason.
Key Points Electric car stocks have surged due to robotaxi optimism. But severe near-term challenges remain. 10 stocks we like better than Lucid Group › Several electric car stocks got huge boosts in recent weeks over enthusiasm for the promise of robotaxis. Tesla launched its robotaxi pilot program in Austin, Texas, last month. Lucid Group (NASDAQ: LCID), meanwhile, recently partnered with Uber Technologies to deliver 20,000 self-driving vehicles alongside a $300 million cash infusion. But not every analyst is bullish. CNBC's Jim Cramer, for example, recently questioned the value of Lucid's deal with Uber. This month, seven other major Wall Street analysts reaffirmed their price targets for Lucid stock. Everyone predicts that shares will fall in value over the next 12 months. Why is Wall Street still so bearish? There's one obvious culprit. The near-term reality for EV stocks is frightening Cathie Wood, CEO of Ark Invest, thinks robotaxis will be a $10 trillion industry long term. That has investors excited. Over the next 12 to 24 months, however, most EV makers will be feeling the pain. That's because federal tax credits for EVs are set to expire this September, effectively making a new EV purchase $7,500 more expensive. While the exact impact remains unknown, this shift should sizably lower demand growth. Federal automotive regulatory credits, meanwhile, are also set to lose their value given fines for noncompliance are being eliminated. Lucid has earned more than $200 million through these programs. And while it won't lose access to the entirety of this profit source, given that many state and international programs will remain, the financial impact will be sudden and meaningful. Every EV maker will be affected by these regulatory shifts, including Rivian, Tesla, and Lucid. EV sales in the second quarter of 2025 are already down 6.3% year over year. We could see these declines persist, or even accelerate, given reduced incentives. Lucid's robotaxi opportunity remains lucrative long term. But analysts are rightfully worried about the next year or two when it comes to reduced sales and profit growth. Should you invest $1,000 in Lucid Group right now? Before you buy stock in Lucid Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lucid Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool has a disclosure policy. Why Is Wall Street So Bearish on Lucid Group? There's 1 Key Reason. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 minutes ago
- Yahoo
Magyar Bancorp Third Quarter 2025 Earnings: EPS: US$0.40 (vs US$0.27 in 3Q 2024)
Magyar Bancorp (NASDAQ:MGYR) Third Quarter 2025 Results Key Financial Results Revenue: US$8.71m (up 20% from 3Q 2024). Net income: US$2.47m (up 46% from 3Q 2024). Profit margin: 28% (up from 23% in 3Q 2024). The increase in margin was driven by higher revenue. EPS: US$0.40 (up from US$0.27 in 3Q 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Magyar Bancorp shares are up 1.4% from a week ago. Risk Analysis We should say that we've discovered 1 warning sign for Magyar Bancorp that you should be aware of before investing here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data