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.

The rate on a 30-year fixed refinance increased to 6.8% today, according to the Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.71%, and for 20-year mortgages, the average is 6.