Mortgage rates soared in the post-pandemic era, leaving borrowers scrambling to find home loans under 7.00%. This came as a big shock to those who'd become used to the 3.00% to 4.00% rates that lasted from the end of the great recession until COVID-19 hit and sent inflation surging.

These are today's mortgage and refinance rates. Mortgage rates are supposed to drop next year, but that hinges on inflation remaining low.

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%.

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

MBA now expects mortgage rates to end 2025 at 6.4%, a 50 bps jump from its forecast in October. Forecasted origination volume dropped $200B.

The interest rate market continues the healing process after taking heavy damage in October.  During the course of that month, the average top tier conventional 30yr fixed rate increased more than 0.

These are today's mortgage and refinance rates. Mortgage rates increased in recent months, and where they go next depends on the economy.

When it comes to mortgage rates, the labor market may have the biggest influence. Here’s why. Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter.

Rates for 30-year new purchase mortgages fell Friday, lowering the flagship average to it cheapest level since mid-October. Rates on other loan types showed mixed movement.