Mortgage Rates Today, May 23, 2025: 30-Year Rates Rise to 6.96%
Mortgage rates are up today, but still under 7%. Today's national average on a 30-year fixed-rate mortgage is 6.96%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 6.12%.
Mortgage rates continue inching higher this week, although refinance rates are slightly down. The latest Federal Reserve decision to maintain the current benchmark has many markets, including the housing market, in wait-and-see mode. Additionally, inflation has cooled slightly, rising only 0.2% in April. Overall, inflation is at 2.3% year-over-year, which is close to the Federal Reserve's target of 2%.
Mortgage rates aren't directly impacted by the Fed, but commentary from policymakers can impact how people feel about the economy and whether they feel comfortable buying a home.
The 10-year Treasury note is the basis for 30-year mortgage rates, and it has been fluctuating somewhat. Even though the latest auction put the 10-year note at 4.25%, the bond market is on the move again, accounting to some degree for the slight uptick in 30-year mortgage rates this week.
Top mortgage rates today
Current mortgage rates are up today, higher than they were seven days ago but lower than in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn't directly impact today's mortgage rates, they have been easing since the Fed began cutting rates in late 2024, and policymakers have been holding rates steady in 2025.
Mortgage rates change regularly, so compare offers and consider the personal and market factors that influence your quoted mortgage rate.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
14 minutes ago
- Bloomberg
US and China Agree Plan to Restore Trade Truce
By and Annmarie Hordern Updated on Save Supply Lines is a daily newsletter that tracks global trade. Sign up here. The US and China capped two days of high-stakes trade talks with a plan to revive the flow of sensitive goods — a framework now awaiting the blessing of Donald Trump and Xi Jinping.
Bloomberg
14 minutes ago
- Bloomberg
Trump Tariffs Can Stay in Effect Longer, Appeals Court Says
Donald Trump can continue to enforce his global tariffs for now, a federal appeals court held in a win for the president on one of his signature economic policies. The order Tuesday by the US Court of Appeals for the Federal Circuit extends an earlier, short-term reprieve for the administration as it presses a challenge to a lower court ruling last month that blocked the tariffs. The Justice Department had argued that US officials' concerns about ongoing trade negotiations outweighed the economic harm claimed by the small businesses that sued.
Bloomberg
14 minutes ago
- Bloomberg
Retail Stock Investors Can Now Imitate the Pros With AI Trading Tools
Artificial intelligence trading tools that analyze reams of data and build portfolios are already shaking up Wall Street. But as they increasingly become available to retail investors, the entire stock market is in for a seismic transformation. The retail crowd owns roughly 25% of the US stock market directly and over 60% indirectly through individual retirement accounts, 401(K)s and the like, according to calculations by Barclays Plc. They're known for loyalty to a handful of high-flyers, like technology giants Tesla Inc. and Nvidia Corp., and a fascination with highly volatile so-called meme stocks like GameStop Corp. In many cases, their trading is disconnected from the underlying fundamentals of the shares they're buying.
