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.

Most experts predict that mortgage rates will fall steadily in 2025, and forecasts from both the Mortgage Bankers Association (MBA) and Fannie Mae back that up. "I expect mortgage rates to be on a slow grind downward in 2025, barring unexpected softness in the economy," Goodwin says.

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

After a three-day climb nudged the 30-year average to its highest level since July, rates have edged lower for the last two days. Rates for other loan types saw minor movement.

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 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.

A short-lived drop in mortgage rates improved affordability for buyers and produced the first year-over-year gain in sales in more than three years.