Today, the mortgage interest rate on a 30-year fixed mortgage is 6.18%, according to the Mortgage Research Center. On a 15-year fixed mortgage, the average rate is 5.34%, and the average rate on a 30-year jumbo mortgage is 6.

Shopping around for mortgage interest rates in recent years has often felt like a fruitless mission. And that was especially true as recently as 2023 or 2024, when rates were hovering near their highest level since 2000.

While homebuyers should not expect a drastic reduction in mortgage rates in the near term, rates could continue to fall through 2026. Fannie Mae predicts that mortgage rates will start off 2026 at 6.2% and drop to 5.9% by the end of the year. On the other hand, the Mortgage Bankers Association sees mortgage rates holding steady at 6.4% this year.

The rate on a 30-year fixed refinance rose to 6.22% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.32%. On a 20-year mortgage refinance, the average rate is 6.

Dear Quentin, Last year, I told my daughter and her husband that I would pay off their mortgage if they got it under $76,000. My husband, daughter, son-in-law and I all went to the bank. My wife wrote the check for the balance.

The housing market faces dual pressure as fewer Americans apply for mortgages while lenders reduce loan programs and increase documentation requirements.

The average long-term mortgage rate rose to 6.16%, mortgage buyer Freddie Mac said Thursday. That’s up slightly from 6.15% last week, when the average rate dropped to its lowest level since October 3, 2024. One year ago, the rate averaged 6.93%.

Why it’s actually a good thing for the housing market that so many homeowners have mortgage rates over 6% now.