Infographic: Average Mortgage Rates Across the U.S. in 2025

Key Takeaways

New Jersey tops the nation with the highest average mortgage rate (6.85%) in Q2 2025.
Alabama saw the largest quarter-over-quarter decrease in average mortgage rates (−16.7%).

After two years of high borrowing costs, mortgage rates eased in Q2 2025 across most U.S. states. Still, buying a home remains difficult. The median age of homebuyers has climbed from 30 in 2010 to a record 38 in 2024, showing that more Americans are entering the housing market later in life.