Whether you’re a first time homebuyer, an experienced buyer, or someone looking to take advantage of better loan terms through a refinance, it’s important to understand how mortgage rates are determined for your unique situation. Everyday we speak with clients looking for answers about rates, so we know how confusing and intimating it can be. That’s why we make it easy for you to find the best rates.
Mortgage Rates as of May, 28 2025 | See Rate Assumptions | Rate Terms Explained
Rate Table Assumptions
Conventional Rates shown assume a purchase transaction.
Annual Percentage Rate (APR) calculations assume a purchase transaction of a single-family, detached, owner-occupied primary residence; a loan-to-value ratio of less than or equal to 96.5%; a minimum FICO score of 740, lock days at 15.
Term
Loan Amount
LTV
Points
30yr Fixed Conv.
$375,000
75.0%
1
15yr Fixed Conv.
$375,000
75.0%
1
30yr Fixed FHA
$289,500
96.5%
1
15yr Fixed FHA
$289,500
96.5%
1
30yr Fixed VA
$300,000
100.0%
1
15yr Fixed VA
$300,000
100.0%
1
30yr Fixed Jumbo
$900,000
75.0%
1
15yr Fixed Jumbo
$900,000
75.0%
1
30yr Fixed USDA
$275,000
100.0%
1
Rates may be higher for loan amounts under $375,000. Please call for details.
Rates are subject to change without notice.
Closing Costs assume that borrower will escrow monthly property tax and insurance payments.
Subject to underwriter approval; not all applicants will be approved.
Fees and charges apply.
Payments do not include taxes and insurance.
Rates based on information gathered from OptimalBlue.
Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and USDA loans as well as conventional loans where the loan to value is greater than 80%.
Restrictions may apply. Ask for details.
Moreira Team | MortgageRight is an Equal Opportunity Lender
“Rate Over X%” Assumptions
Rates shown assume a refinance transaction.
Annual Percentage Rate (APR) calculations assume a purchase transaction of a single-family, detached, owner-occupied primary residence; a loan-to-value of 75%; a minimum FICO score of 740; a Loan Term of 360 months; and a loan amount of $375,000 for conforming loans.
Rates may be higher for loan amounts under $275,000. Please call for details.
Rates are subject to change without notice.
Closing Costs assume that borrower will escrow monthly property tax and insurance payments.
Subject to underwriter approval; not all applicants will be approved.
Fees and charges apply.
Payments do not include taxes and insurance.
Rates based on information gathered from OptimalBlue.
Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and USDA loans as well as conventional loans where the loan to value is greater than 80%.
Restrictions may apply.
Moreira Team | MortgageRight is an Equal Opportunity Lender
Rate Terms Explained
What are Mortgage Points?
Mortgage points, often called discount points, are optional fees that a homebuyer pays at closing in exchange for a reduced interest rate on their mortgage. This process is commonly referred to as "buying down the rate" or a "rate buydown.
What are Lender Credits?
Lender credits are a feature in mortgage financing where the lender agrees to cover some your closing costs in exchange for you accepting a higher interest rate on your loan. This arrangement can make it easier for buyers to afford the upfront costs of purchasing a home.
What is APR?
APR, or annual percentage rate, is a measure of the total yearly cost of borrowing money through a mortgage. Unlike the regular interest rate, which is just the cost of borrowing the principal, the APR incorporates both the interest rate and many of the fees and costs associated with getting your loan.
Rate Feature
Lender Credit
vs
Discount Points
Upfront Costs
Lower (less paid at closing)
Higher (more paid at closing)
Interest Rate
Higher Rate
Lower
Long Term Cost
Higher (more interest paid)
Lower (less interest paid)
Best for...
Short Term Ownership or Cash Strapped
Long Term Ownership or Cash Rich
Our goal is to be 100% transparent, so once you have all the facts, you can make an informed decision on the best loan product, rate, and terms for your personal situation.
What factors affect the mortgage rates?
►
Conventional and government lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded, all day long, in real time. Because of the effects of the political and economical events, mortgage rates and fees move throughout the day. Mortgage rates and pricing goes down when MBS pricing goes up, and vice versa. Some of these factors you can control and others you can’t, which is a big reason why rates change daily. Here is a list of a few things that affect mortgage rates:
Economy – The global economy drives all interest rates, including mortgage rates
Income – Your debt-to-income ratio can affect your rate
Property location – Different state laws can change lender costs.
Home use – Primary or secondary residence, vacation home, or rental?
Property type – Single or multi-family, condo, mobile, etc.
Loan-to-value – Borrowing less (and putting more down) can get you a better rate
Credit score – Better credit means a better interest rate. Lower credit can mean a higher rate
Loan features – Term (30, 20 or 15), documentation type, adjustable rate, etc.
Points – Paying extra up front for “discount points” lowers your rate
Loan amount – Very high or very low loan amounts can mean higher rates
How do you get the best possible mortgage rate?
To get the advertised mortgage rate , you will have to have a low loan-to-value ratio, high income/low debt and perfect credit. Anything less and you will be subject to risk-based pricing, which means the rate you qualify for will reflect your risk level.
The best way to find out your rate is by getting a personal mortgage quick quote, based on your unique borrower profile, from a licensed mortgage advisor.
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Need help figuring out your mortgage rate options?
We’ve built tools to help you run the numbers on different scenarios, so that you can easily see a breakdown of monthly payments and down payments for different rates/terms. You can get started below…
Purchase Affordability Calculator
Purchase
Refinance
Annual Salary
Interest Rate
Loan Term
1015202530
Monthly Debt
Property Taxes
Home Insurance
Maximum Monthly Payment (P&I Only)
$0
Maximum Monthly Payment (Total Payment)
$0
Max Mortgage Amount
$0
Current Balance
Current Rate
Current Term
1015202530
Year Mortgage Aquired
New Loan Amount
New Rate
New Term
1015202530
Refinance Fees
Current Payment
$0
New Payment
$0
Monthly Savings
$0
Lifetime Savings
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Of course, we’re always here to help guide you. You can call now, schedule a call, text, or request a rate quote. Connect with a licensed mortgage advisor today to walk through your options and a get a custom mortgage based on your unique situation.
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