Most experts predict that mortgage rates will fall steadily in 2025, and forecasts from both the Mortgage Bankers Association (MBA) and Fannie Mae back that up. "I expect mortgage rates to be on a slow grind downward in 2025, barring unexpected softness in the economy," Goodwin says.

These are today's mortgage and refinance rates. Mortgage rates have been holding steady this month, and they might only drop a little bit next year.

Currently, the average interest rate on a 30-year fixed mortgage is 7.32%, compared to 7.31% a week ago, according to Curinos. For borrowers who want to pay off their home faster, the average rate on a 15-year fixed mortgage is 6.

W hen the Federal Reserve raised its benchmark interest rate to its highest point in decades in the summer of 2023, mortgage interest rates surged alongside it, hitting their high

Thinking about taking out a mortgage loan? Current mortgage rates hold at 6.99% for 30-year terms, while 15-year terms remain at 6.25%.

Long-term mortgage costs have risen since the Federal Reserve started cutting interest rates in September as the yield curve has steepened.

Mortgage rates ticked back up this week. Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.84 p