{"id":437,"date":"2025-03-14T12:11:04","date_gmt":"2025-03-14T13:11:04","guid":{"rendered":"http:\/\/www.pacific-hydro.com\/?p=437"},"modified":"2025-03-14T22:53:06","modified_gmt":"2025-03-14T22:53:06","slug":"mortgage-rates-today-march-14-2025-15-year-mortgage-rates-increase-30-year-rates-steady","status":"publish","type":"post","link":"http:\/\/www.pacific-hydro.com\/index.php\/2025\/03\/14\/mortgage-rates-today-march-14-2025-15-year-mortgage-rates-increase-30-year-rates-steady\/","title":{"rendered":"Mortgage Rates Today: March 14, 2025 \u2013 15-Year Mortgage Rates Increase, 30-Year Rates Steady"},"content":{"rendered":"
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The current average mortgage rate<\/a> on a 30-year fixed mortgage is 6.71%, according to the Mortgage Research Center. The average rate on a 15-year mortgage is 5.77%, while the average rate on a 30-year jumbo mortgage is 7.12%.<\/p>\n

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30-Year Mortgage Rates<\/strong><\/h2>\n

Today’s average rate on a 30-year, fixed-rate mortgage is 6.71%, which is 0.04 percentage point higher than last week.<\/p>\n

The interest plus lender fees, called the annual percentage rate (APR<\/a>), on a 30-year fixed mortgage is 6.75%. The APR was 6.71% last week.
To get an idea about how much you might pay in interest, consider that the current 30-year, fixed-rate mortgage of 6.71% on a $100,000 loan will cost $646 per month in principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator<\/a> shows. The total amount you’ll pay in interest during the loan’s lifespan is $132,611.<\/p>\n

15-Year Mortgage Rates<\/strong><\/h2>\n

The average interest rate on a 15-year mortgage<\/a> (fixed-rate) rose to 5.77%. This same time last week, the 15-year fixed-rate mortgage was at 5.66%.<\/p>\n

On a 15-year fixed, the APR is 5.82%. Last week it was 5.71%.<\/p>\n

A 15-year fixed-rate mortgage of $100,000 with today’s interest rate of 5.77% will cost $831 per month in principal and interest. Over the life of the loan, you would pay $49,667 in total interest.<\/p>\n

Jumbo Mortgage Rates<\/strong><\/h2>\n

The current average interest rate on a 30-year fixed-rate jumbo mortgage (a mortgage above 2025’s conforming loan limit of $806,500 in most areas) is 7.12%. Last week, the average rate was 7.07%.<\/p>\n

If you lock in the latest rate on a 30-year, fixed-rate jumbo mortgage, you will pay $673 per month in principal and interest per $100,000 borrowed, which amounts to $142,296 in total interest over the life of the loan.<\/p>\n

What Affects Mortgage Rates?<\/strong><\/h2>\n

The Federal Reserve’s restrictive monetary policy – including its interest rate hikes, which it’s using to restrain inflation – is the primary factor that’s pushing long-term mortgage rates higher. The state of the economy and housing market also affects mortgage rates. As for what interest rate the lender might offer you, this depends on your debt-to-income (DTI) ratio and credit score, both of which indicate your risk as a borrower.<\/p>\n

Related:<\/strong> Mortgage Rates Forecast And Trends<\/a><\/p>\n

How To Compare Mortgage Rates<\/strong><\/h2>\n

Shop around and talk to various lenders to get a sense of each company’s mortgage loan offerings and services. Don’t go with the first lender quote you receive; instead, compare the best mortgage rate<\/a> quotes to get a deal. In particular, consider what fees they charge, what fees they’re willing to waive and what closing assistance they might provide. Make sure any special offers or discounts don’t come at the cost of a higher mortgage rate.<\/p>\n

Be sure to apply with each lender within a 45-day window. During this window, you can have multiple lenders pull your credit history without additional impact on your credit score.<\/p>\n

Is This a Good Time To Buy a House?<\/strong><\/h2>\n

Mortgage rates remain elevated, and the nation’s housing supply remains limited. The low inventory is preventing house prices<\/a> from dropping. Meanwhile, the combination of high mortgage rates and appreciated home values will continue to present an obstacle for many prospective homebuyers seeking affordable housing.<\/p>\n

How Are Mortgage Rates Determined?<\/strong><\/h2>\n

Mortgage interest rates are determined by several factors, including some that borrowers can’t control:<\/p>\n