These are today's mortgage and refinance rates. Mortgage rates have been elevated recently, and they might not drop much this year.

After falling for four days and then holding at that level for another day, rates on 30-year mortgages added points Thursday, as did most other loan types.

"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.

The current mortgage rate on a 30-year fixed mortgage fell by 0.14 percentage point in the last week to 6.97%, according to the Mortgage Research Center. Meanwhile, the APR on a 15-year fixed mortgage dropped 0.

After shooting up last week to a 7-month high, rates on 30-year mortgages have moved the other way—falling four days in a row and now holding at that lower level.

These are today's mortgage and refinance rates. Mortgage rates have eased thanks to cooler inflation data, but it's unclear if they'll drop further.

The average rate on a 30-year fixed mortgage reached 7.04% for the week ending January 16 — the highest level since May.

Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.