For those considering more substantial home purchases, the 30-Year Jumbo Rate remains constant at 7.00%. Meanwhile, the FHA option, often favored by first-time homebuyers, offers a lower rate of 6.25% for a 30-Year term. Additionally, the Adjustable Rate (7/6 SOFR ARM) is currently set at 6.45%, providing an alternative for those looking for potentially lower payments initially.
These figures are essential for understanding the broader implications on the St. Louis housing market. Lower interest rates can increase buying power, potentially leading to more competitive housing markets. Conversely, higher rates might slow down the market, as borrowing becomes more expensive. For a visual representation of these trends, please refer to the chart button below, which includes both current and historic interest rates. This information, provided by MORE, REALTORS®, aims to assist you in making informed decisions in the St. Louis real estate landscape.
Current Mortgage Rates*
| Loan Type | Current Rate | Change From Prior Day |
|---|---|---|
| 30 Yr. Fixed | 6.86% | -0.02% |
| 15 Yr. Fixed | 6.19% | -0.02% |
| 30 Yr. FHA | 6.25% | -0.03% |
| 30 Yr. Jumbo | 7.00% | -0.01% |
| 7/6 SOFR ARM | 6.45% | +0.01% |
| 30 Yr. VA | 6.27% | -0.03% |
*Rates shown are national averages from Mortgage News Daily’s Rate Index and are updated as of May 8, 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.
