{"id":507,"date":"2025-04-03T15:15:20","date_gmt":"2025-04-03T15:15:20","guid":{"rendered":"http:\/\/www.pacific-hydro.com\/?p=507"},"modified":"2025-04-04T22:50:16","modified_gmt":"2025-04-04T22:50:16","slug":"mortgage-rates-today-april-3-2025-rates-move-down","status":"publish","type":"post","link":"http:\/\/www.pacific-hydro.com\/index.php\/2025\/04\/03\/mortgage-rates-today-april-3-2025-rates-move-down\/","title":{"rendered":"Mortgage Rates Today: April 3, 2025 \u2013 Rates Move Down"},"content":{"rendered":"

The current average mortgage rate<\/a><\/span> on a 30-year fixed mortgage is 6.59% with an APR of 6.62%, according to the Mortgage Research Center. The 15-year fixed mortgage has an average rate of 5.64% with an APR of 5.69%. On a 30-year jumbo mortgage, the average rate is 7.03% with an APR of 7.05%.<\/p>\n

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

Borrowers paid an average rate of 6.59% on a 30-year mortgage. This was down from the previous week’s rate of 6.73%.<\/p>\n

Currently, the average annual percentage rate (APR<\/a><\/span>) on a 30-year fixed-rate mortgage is 6.62%. This is lower than last week when the APR was 6.77%. The APR contains both mortgage interest and the lender fees to help give a more complete picture of loan costs.<\/p>\n

To get an idea of how much you’ll pay: a $100,000 mortgage with a 30-year fixed-rate loan at the current average interest rate of 6.59% will cost you about $638 including principal and interest (taxes and fees not included) each month, the Forbes Advisor mortgage calculator<\/a><\/span> shows. That’s around $129,656 in total interest over the life of the loan.<\/p>\n

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

Today’s 15-year mortgage<\/a><\/span> (fixed-rate) is 5.64%, down 0.17 percentage point from the previous week. The same time last week, the 15-year, fixed-rate mortgage was at 5.81%.<\/p>\n

The APR on a 15-year fixed is 5.69%. It was 5.86% a week earlier.<\/p>\n

A 15-year, fixed-rate mortgage with today’s interest rate of 5.64% will cost $825 per month in principal and interest on a $100,000 mortgage (not including taxes and insurance). In this scenario, borrowers would pay approximately $48,416 in total interest.<\/p>\n

Jumbo Mortgage Rates<\/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 7.03%. Last week, the average rate was 7.15%.<\/p>\n

If you lock in the latest rate on a 30-year, fixed-rate jumbo mortgage, you will pay $667 per month in principal and interest per $100,000 borrowed, which amounts to $140,162 in total interest over the life of the loan.<\/p>\n

How Much House Can I Afford?<\/h2>\n

Buying a house is a huge purchase and can put a big dent in your savings. Before you start looking, it’s important to calculate how much house you can afford<\/a><\/span> and you’re willing to spend.<\/p>\n

Not only do you want to consider your income and debt, but you also want to factor in emergency savings and any long-term financial goals such as retirement or college.<\/p>\n

These are some basic financial factors that go into home affordability:<\/p>\n