Rates on 30-year mortgage refinance loans edged up another 3 basis points Monday, pushing the average up to 7.15%. That's just 4 basis points under the 7.19% reading notched on Dec. 24, which was the most expensive level for 30-year refi rates since late July.

Today’s average mortgage rate on a 30-year fixed-rate mortgage is 7.32%, down 0.04 percentage point from the previous week, according to Curinos. Borrowers may be able to save on interest costs by going with a 15-year fixed mortgage,

These are today's mortgage and refinance rates. Mortgage rates are flat, but incoming job market and inflation data could push them up or down.

At HousingWire ’s Mortgage Rates Center on Tuesday, the 30-year fixed rate averaged 7.09%. That was up 2 basis points (bps) from a week ago. The 15-year fixed rate was slightly higher at 7.11% and was up 11 bps in the past week.

As we step into the new year, with the presidential inauguration on the horizon, many are wondering about the direction of interest rates.

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What’s often forgotten is that low mortgage rates frequently parallel higher joblessness. Remember, you need a solid paycheck to buy a home. US unemployment averaged 6.4% in the years when mortgage rates fell, but it averaged 5.5% when mortgages became more expensive.

The Federal Reserve has been cutting its benchmark rate in response to falling inflation, but stubbornly high prices for housing, energy, and food remain problematic. As a result, the Fed has scaled back its expectations on rate cuts for this year.

There aren't likely to be any dramatic dips in mortgage rates in the near future. New year, new housing market? Not exactly. In early 2025, affordability remains a major challenge for prospective homebuyers,