These are today's mortgage and refinance rates. Mortgage rates increased in recent months, and where they go next depends on the economy.

Most loan types shed basis points Wednesday, the last business day before Thanksgiving. 30-year home loans dipped to their lowest level in three weeks.

A drop in mortgage rates for the first time in two months has sparked a surge in home purchase applications, breathing new life into the stagnant housing market.

These are today's mortgage and refinance rates. Mortgage rates are supposed to drop next year, but that hinges on inflation remaining low.

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

Rates on new 30-year home loans held their ground at a slightly lower level Tuesday, after sinking dramatically Monday. Movement was mixed for other loan types.

The interest rate market continues the healing process after taking heavy damage in October.  During the course of that month, the average top tier conventional 30yr fixed rate increased more than 0.

These are today's mortgage and refinance rates. Mortgage rates have been elevated this month, and whether they fall soon depends on what the Fed does.

When it comes to mortgage rates, the labor market may have the biggest influence. Here’s why. Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter.