Discover today’s mortgage and refinance rates for September 30, 2025. Learn about 30-year and 15-year loan options, ARM vs. fixed rates, and what today’s changes mean for homebuyers and homeowners.
Today’s Mortgage Market Update
Mortgage rates are showing mixed movement today. Long-term loans have dipped, while shorter-term options ticked slightly upward. According to Zillow data, the average 30-year fixed mortgage rate is now 6.36%, reflecting an 11-basis-point decrease. Meanwhile, the 15-year fixed mortgage rate increased slightly to 5.69%.
For buyers and homeowners considering refinancing, these shifts could impact affordability and monthly payments.
Current Mortgage Rates – September 30, 2025
Here are the latest averages based on Zillow data:
- 30-year fixed: 6.36%
- 20-year fixed: 5.90%
- 15-year fixed: 5.69%
- 5/1 ARM: 6.56%
- 7/1 ARM: 6.41%
- 30-year VA: 5.85%
- 15-year VA: 5.43%
- 5/1 VA: 6.08%
Note: These are national averages rounded to the nearest hundredth. Your actual rate will depend on your financial profile, location, and lender.
Today’s Refinance Mortgage Rates
Refinancing costs are trending higher than purchase rates. As of today, here’s where refinance interest rates stand:
- 30-year fixed refinance: 6.55%
- 20-year fixed refinance: 6.17%
- 15-year fixed refinance: 5.86%
- 5/1 ARM refinance: 6.92%
- 7/1 ARM refinance: 7.02%
- 30-year VA refinance: 5.97%
- 15-year VA refinance: 5.52%
- 5/1 VA refinance: 5.68%
If you are considering refinancing, remember that closing costs and long-term savings should be factored into the decision.
30-Year vs. 15-Year Mortgage Rates
A key decision for homebuyers is choosing between a 30-year loan and a 15-year loan:
- With a 30-year mortgage at 6.36%, a $400,000 loan would cost about $1,993 per month in principal and interest. Over the life of the loan, you’d pay around $397,568 in interest.
- With a 15-year mortgage at 5.69%, the same loan would cost about $3,309 per month, but you’d only pay $195,585 in interest over time.
While the 15-year loan offers long-term savings, the higher monthly payments may be difficult for some buyers. An alternative strategy is to choose a 30-year mortgage and make additional payments when possible to reduce the interest burden.
Fixed-Rate vs. Adjustable-Rate Mortgages
- Fixed-Rate Mortgages: The interest rate remains the same for the life of the loan, offering stability.
- Adjustable-Rate Mortgages (ARM): The rate is fixed for an initial term (such as 5 or 7 years), then adjusts annually. While ARMs sometimes begin with lower rates, they carry risk if rates rise in the future.
Given today’s market, many buyers lean toward fixed rates for predictability, although ARMs may be appealing for short-term homeowners.
When Will Mortgage Rates Drop?
Economists project that rates will remain relatively steady through the rest of 2025.
- The Federal Reserve cut rates by 25 basis points on September 17, 2025, its first cut of the year.
- Wall Street expects at least two more rate cuts before the end of 2025.
- Analysts predict modest decreases in 2026, but not dramatic drops.
For now, homebuyers should focus on affordability and financial preparedness rather than waiting for historically low rates to return.
Mortgage FAQs
What is today’s 30-year fixed rate?
As of September 30, 2025, the 30-year fixed rate averages 6.36% for purchases and 6.55% for refinances.
Are mortgage rates expected to drop soon?
Rates may see slight declines later in 2025 with additional Fed cuts, but significant drops are not anticipated until 2026.
Should I refinance now?
If you can secure a rate meaningfully lower than your current one or switch to a shorter term, refinancing may save you money long term. Always weigh upfront costs against potential savings.
Final Thoughts
Mortgage rates today reflect a complex mix of economic factors and Federal Reserve policy decisions. While 30-year loans have become slightly more affordable, short-term loans remain steady or higher. For buyers and homeowners, this means carefully evaluating your budget, loan options, and long-term financial goals.
At Boutique Realty, we help clients make smart, informed decisions in a changing housing market. Whether you are buying, refinancing, or exploring investment opportunities, our team provides expert guidance tailored to your needs.
✅ Make a move now!
Looking for personalized mortgage advice and real estate guidance? Contact Allen Brodetsky at Boutique Realty today.
📧 Al***@********ls.com
📞 818 312 0831
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