For those looking at more substantial home purchases, the 30-year jumbo loan rate remains steady at 6.90%, reflecting the market’s stability for higher-priced properties. Alternatively, the 30-year FHA rate, often favored by first-time homebuyers for its lower down payment requirements, is notably lower at 6.23%. Additionally, the adjustable rate mortgage (ARM), specifically the 7/6 SOFR ARM, is currently at 6.33%, offering a potentially lower rate option for buyers expecting to move or refinance within a shorter period.
For a detailed view of how these rates compare to historical trends, click the chart button below. This information, provided by MORE, REALTORS®, is essential for making informed decisions in the St. Louis real estate market. Whether you are buying, selling, or refinancing, staying updated on the latest mortgage rate trends is crucial in navigating the complexities of the housing market effectively.
Current Mortgage Rates*
| Loan Type | Current Rate | Change From Prior Day |
|---|---|---|
| 30 Yr. Fixed | 6.85% | +0.03% |
| 15 Yr. Fixed | 6.24% | +0.04% |
| 30 Yr. FHA | 6.23% | +0.03% |
| 30 Yr. Jumbo | 6.90% | +0.02% |
| 7/6 SOFR ARM | 6.33% | +0.02% |
| 30 Yr. VA | 6.25% | +0.03% |
*Rates shown are national averages from Mortgage News Daily’s Rate Index and are updated as of April 9, 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.
