Current mortgage rates are down and lower than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

Here’s the monthly cost of purchasing a typical home today, according to the Realtor.com® mortgage calculator. The typical monthly payment on a median-priced $440,950 home at today’s 6.74% mortgage rate is roughly $2,286. (That’s assuming a 20% down payment and excluding tax and insurance.)