For those considering larger, more expensive properties, the 30-Year Jumbo Rate is currently at 6.95%. This rate is slightly higher than the standard fixed rates, reflecting the increased risk associated with larger loan amounts. Additionally, the 30-Year FHA Rate, often chosen by first-time homebuyers for its lower down payment requirements, is attractively set at 6.18%. Those looking for more flexibility might find the Adjustable Rate (7/6 SOFR ARM) appealing, which is currently at 6.35%.
Understanding these rates is crucial for making informed decisions in the housing market. For a visual representation of how these rates have changed over time, click the chart button below. This information, provided by MORE, REALTORS®, helps potential buyers and sellers in the St. Louis metropolitan area navigate their real estate transactions with up-to-date and relevant data. Whether you’re buying your first home, upgrading to a larger property, or refinancing, keeping an eye on these rates can provide valuable guidance.
Current Mortgage Rates*
| Loan Type | Current Rate | Change From Prior Day |
|---|---|---|
| 30 Yr. Fixed | 6.81% | +0.00% |
| 15 Yr. Fixed | 6.15% | -0.02% |
| 30 Yr. FHA | 6.18% | -0.01% |
| 30 Yr. Jumbo | 6.95% | +0.00% |
| 7/6 SOFR ARM | 6.35% | -0.02% |
| 30 Yr. VA | 6.19% | -0.01% |
*Rates shown are national averages from Mortgage News Daily’s Rate Index and are updated as of May 1, 2025. Individual rates may vary based on factors including loan amount, down payment, credit score, property type, occupancy status, and market conditions. Contact a licensed mortgage professional for personalized rate quotes.
