{"id":360,"date":"2025-10-13T10:02:41","date_gmt":"2025-10-13T10:02:41","guid":{"rendered":"http:\/\/www.capitalskips.com\/?p=360"},"modified":"2025-10-13T12:08:16","modified_gmt":"2025-10-13T12:08:16","slug":"mortgage-rates-today-october-13-2025-rates-hold-steady","status":"publish","type":"post","link":"http:\/\/www.capitalskips.com\/index.php\/2025\/10\/13\/mortgage-rates-today-october-13-2025-rates-hold-steady\/","title":{"rendered":"Mortgage Rates Today: October 13, 2025 \u2013 Rates Hold Steady"},"content":{"rendered":"

Currently, the average interest rate<\/a><\/span> on a 30-year fixed mortgage is 6.34%<\/strong>, compared to 6.3% a week ago, according to the Mortgage Research Center.<\/p>\n

For borrowers who want to pay off their home faster, the average rate on a 15-year fixed mortgage is 5.40%<\/strong>, up 0.80% from the previous week.<\/p>\n

Homeowners who want to lock in a lower rate by refinancing should compare their existing mortgage rate with current market rates<\/a><\/span> to make sure it’s worth the cost to refinance. <\/p>\n

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30-Year Mortgage Rates Climb 0.54%<\/h2>\n

Today’s average rate on a 30-year, fixed-rate mortgage is 6.34%, which is 0.54% higher than last week.<\/p>\n

The interest plus lender fees, called the annual percentage rate (APR<\/a><\/span>), on a 30-year fixed mortgage is 6.37%. The APR was 6.33% last week.<\/p>\n

To get an idea about how much you might pay in interest, consider that the current 30-year, fixed-rate mortgage of 6.34% on a $100,000 loan will cost $621 per month in principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator<\/a><\/span> shows. The total amount you’ll pay in interest during the loan’s lifespan is $124,428. <\/p>\n

15-Year Mortgage Rates Climb 0.80%<\/h2>\n

Today’s 15-year mortgage<\/a><\/span> (fixed-rate) is 5.4%, up 0.80% from the previous week. The same time last week, the 15-year, fixed-rate mortgage was at 5.35%.<\/p>\n

The APR on a 15-year fixed is 5.44%. It was 5.4% a week earlier.<\/p>\n

A 15-year, fixed-rate mortgage with today’s interest rate of 5.4% will cost $812 per month in principal and interest on a $100,000 mortgage (not including taxes and insurance). In this scenario, borrowers would pay approximately $46,541 in total interest.<\/p>\n

Jumbo Mortgage Rates Climb 0.33%<\/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 6.67%\u20140.33% higher than last week.<\/p>\n

A 30-year jumbo mortgage at today’s fixed interest rate of 6.67% will cost you $643 per month in principal and interest per $100,000. That adds up to approximately $131,942 in total interest over the life of the loan. <\/p>\n

Mortgage Rate Trends in 2025 <\/h2>\n

After reaching 7.04% in January, the average interest rate for a 30-year fixed mortgage has steadily remained in the mid-to-high 6% range. The 15-year fixed mortgage rate has hovered between the low-6% and mid-to-high 5% range since its January peak of 6.27%.<\/p>\n

Rates have trended downward since mid-January 2025, but experts aren\u2019t forecasting further significant decreases in 2025. Rate drops may continue in 2026, especially if the Federal Reserve continues to cut the federal funds rate down.<\/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.<\/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<\/h2>\n

Mortgages and mortgage lenders<\/a><\/span> are often a part of purchasing a home, but it can be tricky to understand what you’re paying for\u2014and what you can truly afford.<\/p>\n

Using a mortgage calculator<\/a><\/span> can help you estimate your monthly mortgage payment based on your interest rate, purchase price, down payment and other expenses.<\/p>\n

Here’s what you’ll need in order to calculate your monthly mortgage payment: <\/p>\n