{"id":335,"date":"2025-10-06T10:00:18","date_gmt":"2025-10-06T10:00:18","guid":{"rendered":"http:\/\/www.capitalskips.com\/?p=335"},"modified":"2025-10-06T12:10:10","modified_gmt":"2025-10-06T12:10:10","slug":"mortgage-rates-today-october-6-2025-rates-move-lower","status":"publish","type":"post","link":"http:\/\/www.capitalskips.com\/index.php\/2025\/10\/06\/mortgage-rates-today-october-6-2025-rates-move-lower\/","title":{"rendered":"Mortgage Rates Today: October 6, 2025 \u2013 Rates Move Lower"},"content":{"rendered":"

Today, the mortgage interest rate<\/a><\/span> on a 30-year fixed mortgage is 6.30%<\/strong>, according to the Mortgage Research Center, while the average rate on a 15-year mortgage is 5.35%<\/strong>. On a 30-year jumbo mortgage, the average rate is 6.64%<\/strong>.<\/p>\n

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30-Year Mortgage Rates Drop 1.64%\u00a0<\/h2>\n

Today’s 30-year mortgage\u2014the most popular mortgage product\u2014is 6.3%, down 1.64% from a week earlier.<\/p>\n

The interest rate is just one fee included in your mortgage. You’ll also pay lender fees, which differ from lender to lender. Both interest rate and lender fees are captured in the APR<\/a><\/span>. This week the APR on a 30-year fixed-rate mortgage is 6.33%. Last week, the APR was 6.44%.<\/p>\n

Let’s say your home loan is $100,000 and you have a 30-year, fixed-rate mortgage with the current rate of 6.3%, your monthly payment will be about $619, including principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator<\/a><\/span> shows. That’s around $123,582 in total interest over the life of the loan.\u00a0<\/p>\n

15-Year Mortgage Rates Drop 2.26%\u00a0<\/h2>\n

Today, the 15-year mortgage<\/a><\/span> rate inched down to 5.35%, lower than it was at this time yesterday. Last week, it was 5.48%.<\/p>\n

On a 15-year fixed, the APR is 5.4%. Last week it was 5.53%.<\/p>\n

A 15-year fixed-rate mortgage of $100,000 with today’s interest rate of 5.35% will cost $809 per month in principal and interest. Over the life of the loan, you would pay $46,131 in total interest.\u00a0<\/p>\n

Jumbo Mortgage Rates Drop 1.83%\u00a0<\/h2>\n

Today’s 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) fell 1.83% from last week to 6.64%.<\/p>\n

Borrowers with a 30-year, fixed-rate jumbo mortgage with today’s interest rate of 6.64% will pay approximately $642 per month in principal and interest per $100,000 borrowed. That would be $131,417.\u00a0<\/p>\n

Trends in Mortgage Rates for 2025<\/h2>\n

After reaching highs in 2024, the average 30-year fixed mortgage rate has remained in the mid-to-high 6% range since late January 2025. The 15-year fixed mortgage rate has hovered between the low-6% and mid-to-high-5% range.<\/p>\n

While interest rates have fallen since mid-January 2025, experts expect them to remain relatively steady for the remainder of the year. If the Federal Reserve continues to cut the federal funds rate, it\u2019s possible that mortgage rates will decrease in 2026.<\/p>\n

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When Will Mortgage Rates Go Down?<\/h2>\n

Mortgage rates are influenced by various economic factors, making it difficult to predict when they will drop<\/a><\/span>.<\/p>\n

Mortgage rates follow U.S. Treasury bond yields. When bond yields decrease, mortgage rates generally follow suit.\u00a0<\/p>\n

The Federal Reserve’s decisions and global events also play a key role in shaping mortgage rates. If inflation rises or the economy slows, the Fed may lower its federal funds rate. For example, during the Covid-19 pandemic, the Fed reduced rates, which drove interest rates to record lows.<\/p>\n

A significant drop in mortgage rates seems unlikely in the near future. However, they may decline if inflation eases or the economy weakens.<\/p>\n

How To Calculate Mortgage Payments\u00a0<\/h2>\n

One of the first steps in buying a house is budgeting. To get a general idea of how much owning a home will cost, start by using a mortgage calculator to crunch the numbers.<\/p>\n

Just input the following data to get an idea of how much a house will cost:<\/p>\n