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October
2
2
Current Rates
As of October 2, 2025, a 30-year fixed mortgage rate is around 6.36% to 6.63%, while a 15-year fixed rate is approximately 5.51% to 5.88%, though these figures vary by lender and factors like credit score and loan type influence the specific rate you qualify for. You can find current rates on sites like Bankrate and Mortgage News Daily, which provide detailed breakdowns for various loan products and locations.
Typical Rates by Loan Type (October 2, 2025)
- 30-Year Fixed:Around 6.36% to 6.63%
- 15-Year Fixed:Approximately 5.51% to 5.88%
- Adjustable-Rate Mortgage (ARM):Rates vary, but can be lower than fixed-rate options initially
- FHA Loans:Lower rates are available, with some around 6.125% for a 30-year term, according to Rocket Mortgage
- VA Loans:Rates are competitive, with a 30-year option at 6.125% at one lender
- Jumbo Loans:These typically have higher rates, with 30-year jumbo rates around 6.27% to 6.63%, notes Investopedia
Where to Find Current Rates
- Bankrate: Provides national and California-specific rates for various loan types
- Mortgage News Daily: Offers daily surveys and a rate index
- Rocket Mortgage: A major online lender with current rates and estimated payments
- U.S. Bank: Provides California-specific rates and information on points
Factors That Influence Your Rate
- Credit Score: A higher credit score generally results in a lower interest rate
- Loan Type: Fixed-rate mortgages offer stability, while adjustable-rate mortgages can start lower but change over time
- Down Payment: A larger down payment can sometimes secure a better rate
- Loan-to-Value (LTV): The loan amount compared to the property value affects your rate