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American Focus > Blog > Economy > Mortgage and refinance interest rates today, September 27, 2025: Rates fluctuate slightly
Economy

Mortgage and refinance interest rates today, September 27, 2025: Rates fluctuate slightly

Last updated: September 29, 2025 10:53 pm
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Mortgage and refinance interest rates today, September 27, 2025: Rates fluctuate slightly
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Today’s mortgage interest rates reflect an interesting mix of slight increases and decreases, showcasing a relatively stable market overall. As reported by Zillow, the average 30-year fixed mortgage rate has seen a modest uptick of four basis points, currently sitting at 6.47%. In contrast, the 15-year fixed mortgage rate has decreased by three basis points, now at 5.66%.

Discover more: The best mortgage lenders for first-time buyers

Here’s a snapshot of current mortgage rates based on the latest Zillow data:

  • 30-year fixed: 6.47%

  • 20-year fixed: 6.10%

  • 15-year fixed: 5.66%

  • 5/1 ARM: 6.66%

  • 7/1 ARM: 6.88%

  • 30-year VA: 5.89%

  • 15-year VA: 5.59%

  • 5/1 VA: 5.32%

Please note that these figures represent national averages rounded to the nearest hundredth.

Explore further: 8 strategies for getting the lowest mortgage rates

Additionally, here are today’s mortgage refinance rates from Zillow:

  • 30-year fixed: 6.55%

  • 20-year fixed: 6.25%

  • 15-year fixed: 5.83%

  • 5/1 ARM: 6.91%

  • 7/1 ARM: 7.54%

  • 30-year VA: 6.16%

  • 15-year VA: 6.05%

  • 5/1 VA: 5.82%

These figures are also national averages and are rounded to the nearest hundredth. It’s important to note that refinance rates often trend higher than initial purchase rates.


  • How much house can I afford? Affordability calculator



  • Mortgage interest rate predictions for the next 5 years



  • Is now a good time to get an adjustable-rate mortgage (ARM)?

To better understand how today’s interest rates influence monthly payments, use the mortgage calculator below.

For a more comprehensive estimate, check out Yahoo’s free mortgage calculator. You can factor in expenses like private mortgage insurance (PMI) and homeowners’ association fees to get a more accurate monthly payment estimate.

Opting for a 30-year fixed mortgage offers two significant advantages: lower monthly payments and predictable payment amounts. The extended repayment term allows homeowners to manage monthly bills more effectively without unexpected rate fluctuations usually seen in adjustable-rate mortgages (ARMs). Additionally, homeowners can expect only minor changes in payments due to homeowners insurance or property taxes each year.

However, the downside of a 30-year fixed mortgage is the higher interest rate compared to shorter terms like the 15-year option. Borrowers will end up paying substantially more interest over the life of the loan due to the length and the higher rate.

Exploring 15-year fixed mortgage rates: Pros and Cons

The benefits and drawbacks of 15-year fixed mortgage rates reverse those of the 30-year term. Although monthly payments remain predictable, the benefits include lower interest rates and the ability to own your home free and clear 15 years sooner, translating into considerable savings on interest over the term.

On the flip side, monthly payments are higher because the repayment is accelerated, leading to an increased financial burden compared to a 30-year mortgage.

Learn more: 15-year vs. 30-year mortgages

Adjustable-rate mortgages (ARMs) offer an initial fixed rate for a specified time frame before adjusting on a regular schedule thereafter, such as with a 5/1 ARM where the rate remains stable for the first five years before yearly adjustments commence. The major advantage here is the typically lower initial rate compared to 30-year fixed options, leading to reduced monthly payments.

However, the risk lies in the unpredictability of future rates post-introductory period, presenting potential challenges if rates sharply increase. If you plan to move before the rate adjusts, this may suit your financial strategy without the risk of a future rate hike.

Discover more: Is now a good time to get an adjustable-rate mortgage?

Currently, now is a relatively good time to buy a house, especially compared to the peak periods during the COVID-19 pandemic. With home prices stabilizing, buyers can feel optimistic about entering the market without the anxiety of drastic price hikes.

Mortgage rates have remained relatively consistent since August, reducing the pressure on buyers. Strategic home purchases often depend on individual circumstances, and timing the market can mirror the unpredictability of stock trading—buy when it aligns with your personal goals.

Explore further: Which is more important, your home price or mortgage rate?

As of now, Zillow reports a national average 30-year mortgage rate of 6.47%. However, mortgage rates vary by state and even by locality, possibly affecting rates in higher-cost regions.

Looking ahead, economists predict that mortgage interest rates will remain stable with only slight fluctuations anticipated for the remainder of the year. The overall trend shows a gradual decline in rates, with the 30-year fixed rate showing a decrease of 21 basis points since late July.

For those considering refinancing, the approach mirrors that of the initial home purchase. Enhancing your credit score and optimizing your debt-to-income ratio (DTI) can significantly influence your refinancing opportunities. Furthermore, shifting to a shorter term can yield lower rates, although this will result in greater monthly installment amounts.

See also  Stock market today: S&P 500, Nasdaq notch record close as AMD's OpenAI deal sparks wild rally
TAGGED:fluctuateinterestmortgageratesrefinanceSeptemberslightlyToday
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