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Thu, May 8, 2025

Current mortgage rates report for April 7, 2025: Rates take a noteworthy drop


Published on 2025-05-08 13:09:43 - Fortune
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  • See Monday's report on average mortgage rates on different types of home loans so you can pick the best mortgage for your needs as you house shop.

On April 7, 2025, mortgage rates have seen a slight increase, with the average 30-year fixed-rate mortgage at 6.875%, up from last week's 6.75%. The 15-year fixed-rate mortgage stands at 6.125%, and the 5/1 adjustable-rate mortgage (ARM) is at 6.25%. Despite the rise, experts suggest that rates may stabilize soon due to moderating inflation and steady economic growth. Homebuyers are advised to compare rates from multiple lenders to secure the best possible deal, as even small differences in rates can significantly impact long-term costs. Additionally, the article notes that the Federal Reserve's policies continue to influence mortgage rates, with potential rate cuts later in the year possibly leading to lower borrowing costs.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-mortgage-rates-04-07-2025/ ]