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Current mortgage rates report for May 13, 2025: Rates stuck at elevated level

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See Tuesday'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 May 13, 2025, mortgage rates have seen a slight decrease, with the average 30-year fixed-rate mortgage at 6.99%, down from last week's 7.05%, and the 15-year fixed-rate mortgage averaging 6.35%, a drop from 6.40% the previous week. Despite these declines, rates remain elevated compared to historical lows, influenced by persistent inflation and economic uncertainty. The article suggests that potential homebuyers should consider locking in rates soon, as experts predict rates might rise again due to ongoing economic factors. Additionally, the article provides insights into adjustable-rate mortgages and jumbo loans, noting their rates at 6.10% and 7.02% respectively, and advises buyers to compare offers from multiple lenders to secure the best possible terms.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-mortgage-rates-05-13-2025/ ]