Jumbo 30-year mortgage rates declined a notable 6 basis points Friday, reducing the average to 7.10% after registering a 10-month high of 7.16% Thursday. Last fall, in contrast, ...

The average rate on a 15-year mortgage also rose, to 6.13 percent from 6 last week. It is also the highest rate for this type of home loan since July and up from the 5.89 percent rate a year earlier.

In a historical sense, a good mortgage rate is generally at or below the national average. Since 1971, the 30-year fixed mortgage rate has averaged 7.72%, according to Freddie Mac. In the last year, average mortgage rates have mostly fluctuated between 6% and 7%.

One year ago, the rate on a 30-year mortgage averaged 6.61%. The average rate on a 30-year mortgage is now the highest it’s been since the week of July 11, when it was at 6.89%.

At this time last year, mortgage rates were 8 basis points higher — and this is the No. 1 mortgage lender for May 2025. Story by Andrew Shilling • 3d.

Finally, there's good news for homebuyers and for homeowners who want to refinance their mortgages: A 30-year fixed-rate mortgage now averages 6.69%, dropping significantly from its 20-year peak ...

And 15-year conforming rates have shot up 38 bps in the past week to reach 6.88%. Rates had reached a 2025 low point on April 11, when 15-year and 30-year rates averaged 6.38% and 6.69%, respectively.