Mortgage Rates Drop Nationwide Amid Treasury Yield Decline

Mortgage rates as of April 16, 2025, have declined across most loan types, with the average 30-year fixed rate dropping to 6.78% and the 15-year fixed rate falling to 6.09%, according to Zillow data. This decrease is largely attributed to a drop in the 10-year Treasury yield, which strongly influences mortgage pricing. While some sources report slightly higher national averages, the general trend reflects a recent decline, making it a potentially favorable moment for homebuyers and those looking to refinance. It's important for consumers to compare offers from multiple lenders, as individual rates depend on factors such as credit score, down payment, and loan type. Tools like mortgage calculators can help buyers estimate monthly payments, taking into account variables like homeowners insurance, property taxes, and PMI. Despite the recent dip, experts note that rates remain at relatively high levels overall due to persistent inflation and economic uncertainty.