M
ortgage rates on September 26, 2025 have risen again.

    - 30‑year fixed: 6.62 % (+15 bps from 6.47 %)

    - 15‑year fixed: 5.70 % (‑5 bps)

    - 30‑year refinance: 7.12 % (+36 bps)

    - FHA 30‑year: 7.23 % (+1.54 %)

    - VA 30‑year: 6.00 % (+0.03 %)

    The 10‑year Treasury sits at 4.176 %, but mortgage rates stay 1–2 percentage points higher due to a wide spread that has stayed above 2 %. The Fed’s recent 0.25 % cut to 4.0–4.25 % has not yet pulled rates down because lenders still demand a premium for mortgage‑backed securities.

    **Key takeaways**

    - 30‑year fixed up to 6.62 %

    - 15‑year fixed down to 5.70 %

    - Refinance 30‑year at 7.12 %

    - FHA 30‑year spiked to 7.23 %

    **Forecasts**

    - National Association of REALTORS®: average 6.4 % late 2025, 6.1 % in 2026 if inflation eases.

    - Fannie Mae: 6.4 % in 2025, 5.9 % in 2026.

    - Mortgage Bankers Association: 6.7 % by year‑end 2025, 6.5 % in 2026, with possible short‑term spikes.

    **Example impact**

    A $300,000 loan at 6.47 % costs $1,893/month; at 6.62 % it costs $1,927—$34 more each month, $12,000 extra over 30 years. Refinancing from 6.5 % to 7.12 % would raise payments, so many borrowers wait for a dip.

    **Borrower considerations**

    - Those with old loans below 6 % face higher refinance costs; those above 6.5 % may still benefit if they secure a lower rate.

    - The persistent spread signals lender caution amid inflation concerns, urging careful rate‑watching.

    **Summary table (September 26, 2025)**

    | Loan type | Current rate | 1‑wk change | Refi rate | 1‑wk refi change |

    |-----------|--------------|-------------|-----------|------------------|

    | 30‑yr fixed (conforming) | 6.62 % | +0.15 % | 7.12 % | +0.36 % |

    | 15‑yr fixed (conforming) | 5.70 % | –0.05 % | 6.01 % | +0.04 % |

    | 5‑yr ARM (conforming) | 7.01 % | –0.19 % | 7.41 % | –0.01 % |

    | 30‑yr FHA | 7.23 % | +1.54 % | — | — |

    | 30‑yr VA | 6.00 % | +0.03 % | — | — |

    **Expert view**

    Mortgage rates lag Treasury moves when inflation stays above target. A wide spread suggests lenders price in uncertainty, making rates less responsive to Fed cuts. Rates may stabilize or modestly decline if inflation eases and spreads narrow.

    **Investment note**

    With rates high in 2025, focus on stable, passive‑income real‑estate opportunities. Norada offers turnkey rentals in resilient markets to build cash flow amid borrowing‑cost volatility. Call (800) 611‑3060 for a no‑obligation consultation.