Daily 30-Year Fixed Mortgage Rates - September 13, 2025: Decrease of 6 Basis Points Recorded
The US Federal Reserve (Fed) recently announced a quarter-point interest rate cut on September 16, 2025, bringing the current 30-year fixed refinance rate to 6.66%. This significant drop presents a valuable opportunity for homeowners who currently pay rates above 7%, as they now have a chance to refinance into the mid-6% range.
This potential refinancing could result in substantial savings for homeowners, with a loan amount of $300,000 and a 30-year fixed mortgage rate of 6.44% leading to a monthly principal and interest payment of approximately $1,893 (excluding taxes and insurance). In comparison, if the rate had been 6.75% just a week ago, the monthly payment would be about $1,946, representing a difference of $53 monthly.
However, it's important to note that inflation remains above the Federal Reserve's 2% target, currently at approximately 2.7%. This factor, along with other economic indicators such as labor market reports and the Fed's language on future rate adjustments, is closely monitored by investors to predict near- and medium-term housing finance costs.
The current 5-year Adjustable-Rate Mortgage (ARM) stands at 7.20%, showing mixed movement. On the other hand, the 15-year fixed refinance rate has slightly increased to 5.52%, while the 15-year fixed mortgage rate has trended downward to 5.51%. The 1-week change in the 30-year fixed mortgage rate has decreased by 0.06%.
Despite the reduction in rates, many housing markets where home prices are elevated may only experience partial relief. Homeowners are encouraged to consult with a financial advisor to determine the best course of action for their specific financial situation.
