These are today's mortgage and refinance rates. Mortgage rates have held relatively steady this month, and where they go next depends on the economy.

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.

Thinking about taking out a mortgage loan? Current mortgage rates drop to 6.88% for 30-year terms, while 15-year terms fall to 6.13%.

These are today's mortgage and refinance rates. Unless the economy starts to weaken, we might not see mortgage rates drop as much as expected in 2025.

See what mortgage interest rate you could qualify for here now.

The current median interest rate is 6.88% for a 30-year fixed-rate mortgage and 6.13% for a 15-year fixed-rate mortgage

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%.

To better understand the future direction of mortgage rates, we need to understand what factors influence them.

After three days of ticking downward, 30-year mortgage rates inched up a bit Friday, wavering in a narrow range. Other loan types saw mixed rate movement.