Today, the mortgage interest rate on a 30-year fixed mortgage is 7.46%, according to Curinos, while the average rate on a 15-year mortgage is 6.64%. On a 30-year jumbo mortgage, the average rate is 7.

Mortgage rates near 6% are the new normal, says NAR's Lawrence Yun. Experts predict modest market changes and a potential rise in second home purchases.

"While I'd love to say rates will drop below 6% in 2025, I think it's a moderate probability and not a certainty," says Steven Parangi, a licensed mortgage loan originator and owner of Alpine Mortgage Services. His view aligns with the Mortgage Bankers Association's prediction that rates will stay between 6% and 7% throughout the year.

For now, expectations for interest rate cuts in 2025 are relatively limited. This may limit the potential for lower mortgage rates.

We knew that today's Consumer Price Index (CPI) was a hotly anticipated economic report that at least had the potential to give rates a big push, and it didn't disappoint. Any time we're dealing with an important economic report that gives rates a big push,

A fter several months of hopeful signs in the battle against inflation, new data confirms that the fight is far from over. Inflation rose 2.9% on an annual basis in December, whic

With sticky inflation and rising bond yields, mortgage rates continue to move higher. The Mortgage Bankers Association, whose readings are often slightly h

These are today's mortgage and refinance rates. Mortgage rates have gone up thanks to strong economic data. Where they go next depends on inflation.

As mentioned, mortgage rates haven't fallen in line with the Fed's rate cuts because they depend on factors beyond the agency's benchmark rate, such as the economy and 10-year Treasury bond yields. For example, when the 10-year treasury rate goes up, mortgage rates tend to follow, and vice-versa.