For the First Time in Five Years, More Homeowners Have a Mortgage Rate Above 6% Than Below 3%
LAS VEGAS, NV – A new study has revealed that, for the first time in five years, there are more homeowners with a mortgage interest rate higher than six percent than there are ones with a rate below three percent.
Data released by Redfin indicates that 21.1 percent of homeowners in the United States – equating to over one in five – had a mortgage rate of six percent or higher during the third quarter of 2025, the most recent time period for which data is available; this represents a year-over-year increase of 17.1 percent, as well as the highest share since 2015.
In contrast, a lower amount of homeowners – 20 percent – had a mortgage rate of three percent or lower in the third quarter of 2025, which is the smallest share since the fourth quarter of 2021.
The remaining 78.8 percent of homeowners in the country had a rate under six percent, the lowest share since 2015.
This news shows that the home mortgage industry has undergone a diametric shift from what it once was during the COVID-19 pandemic and the months that followed in its wake, when more homeowners had lower rates than higher ones.
The last time the majority of homeowners had higher mortgage rates as opposed to lower ones was the third quarter of 2020, right in the midst of the pandemic when rates were bottoming out, causing a homebuying frenzy across the country.
According to Redfin’s head of economics research, Chen Zhao, with mortgage rates finally dipping slightly below six percent recently, now might be a good time for homeowners with six-plus percent mortgage rates to think about refinancing.
For homeowners with a rate north of 6 percent, this is a moment to run the numbers,” he said. “With average rates hovering at or just below 6 percent, some borrowers may be able to lower their monthly payment or their long-term interest costs by refinancing. It’s not the once-in-a-generation opportunity we saw in 2020, but it could provide meaningful savings.”
Shelter Realty Property Management specializes in the areas of Henderson, Las Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.
Christopher Boyle is an expert investigative journalist for SEARCHEN NETWORKS® and reports for independent news and media organizations in the United States. Christopher keeps a keen-eye on what’s happening in the Vegas real estate market on behalf of Shelter Realty Property Management