Images by PM Images/Getty Images. Illustrations by Hunter Newton/Bankrate
Current mortgage fees
| Loan type | the current | 4 weeks ago | 1 year ago | 52-week average | 52 weeks low |
|---|---|---|---|---|---|
| 30 years | 6.77% | 7.03% | 7.00% | 6.90% | 6.20% |
| 15 years | 5.99% | 6.24% | 6.35% | 6.17% | 5.40% |
| 30 Years of Jumbo | 6.87% | 7.05% | 7.00% | 6.94% | 6.36% |
This week’s survey 30-year fixed mortgage earned an average total of 0.23 discounts and origination points. Discount points are a way to lower your mortgage rate, while origination points are the fees that lenders charge to create, review and process the loan.
Monthly mortgage payments at today’s fee
According to the U.S. Department of Housing and Urban Development, family income nationwide was $97,800 in 2024, and the median price of existing homes sold in January 2025 was $396,900, according to the National Association of Realtors. Based on a 20% down payment and a 6.77% mortgage rate, monthly payments amount to $2,064, which is 25% of a typical family’s monthly income.
What will happen to the mortgage fees in 2025?
Mortgage rates did not correspond to three consecutive Federal Reserve cuts last year. Fixed mortgage fees are not set directly by the Fed, but are set specifically by the appetite of investors in 10-year Treasury debt. If there is uncertainty in the market, investors will purchase financial liabilities.
Another factor is inflation, which remains sustainably higher than the Fed’s 2% target. On March 12, the Labor Bureau reported that inflation had fallen to 2.8% in February. This is a move to alleviate some of the pressure on mortgage rates.
“Mortgage rate progress is expected to occur only when inflation is included,” said Lawrence Yun, chief economist at the National Association of Realtors.
The new wildcard comes in the form of President Donald Trump’s trade war. According to Chris Flanagan, managing director of Bank of America, Tit-for-Tat tariffs are shaking the market and could push mortgage rates below 6% by the end of the year. “There’s record policy uncertainty.”
“All political volatility is taking place — tariffs, tariffs will not be able to predict what is happening in inflation. Vishal Garg, CEO of Better Mortgage, said:
But he sees a faint hope Trump has focused on cutting federal spending. “If the deficit is reduced, it could be noticed by bond traders and a major historical spread between mortgage rates and 10-year financial interest rates,” Garg said.
