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.

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%.

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

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.

Thinking about taking out a mortgage loan? Current mortgage rates rise to 6.99% for 30-year terms, while 15-year terms increase to 6.25%.

Mortgage rates have seemingly been poised to start dropping any day now, especially given that the Federal Reserve has begun making long-awaited interest rate cuts. However, despite these expectations and much to potential homebuyers' chagrin, mortgage rates are moving in the opposite direction.