Mortgage Rates Mixed: 30-Year Fixed Slips to 6.33%, 5/1 ARM Surges 24 Basis Points

On Monday, the average U.S. 30-year fixed mortgage rate fell 3 basis points to 6.33%, while the 5/1 adjustable-rate mortgage (ARM) jumped 24 basis points to 6.45%, according to Zillow data. The 15-year fixed rate was unchanged at 5.79%. The Mortgage Bankers Association expects the 30-year rate to stay between 6.4% and 6.5% through 2026, and Fannie Mae projects 6.3% by year-end. The 5/1 ARM has swung sharply in recent weeks, occasionally topping fixed rates and underscoring persistent volatility. For a $300,000 loan, a 6.34% 30-year fixed rate yields a monthly principal-and-interest payment of about $1,865 and $371,309 in total interest over the loan term. A 15-year mortgage at 5.90% lifts the payment to $2,515 but slashes total interest to $152,770, highlighting the trade-off between lower long-term cost and higher monthly obligations. Rates vary by region and credit profile.