“Even by the end of next year, it’s hard to see sub 6 percent mortgage rates,” said Mark Fleming, chief economist at First American, which predicts the average rate on a 30-year mortgage will range between 6% and 6.5% next year, per a report from The Hill.

Rates on 30-year mortgage refinance loans edged up another 3 basis points Monday, pushing the average up to 7.15%. That's just 4 basis points under the 7.19% reading notched on Dec. 24, which was the most expensive level for 30-year refi rates since late July.

For the second day in a row, mortgage rates have moved higher at a modest to moderate pace. Unfortunately, that's been a trend so far in 2025 and it's compounded by the fact that rates were already close to their recent highs.

These are today's mortgage and refinance rates. Mortgage rates are flat, but incoming job market and inflation data could push them up or down.

Since the Fed's first cut in September, the average 30-year fixed mortgage rate has gone up nearly a full percentage point. The things we accumulate are meant to be used... and the people in our lives are meant to be valued Take a look at the Official Trailer for Sony Future Immersive Entertainment Concept unveiled at CES 2025.