The current average mortgage rate on a 30-year fixed mortgage is 7.34%, compared to 7.29% a week earlier, according to Curinos. For borrowers who want a shorter mortgage, the average rate on a 15-year fixed mortgage is 6.

Mortgage rates are starting 2025 at the highest they've been since last summer on expectations that the Fed will keep rates higher longer.

Mortgage rates have steadily increased over the past three months, a frustrating development for home buyers trying to enter the housing market. When the Fed began cutting interest rates in September 2024,

January is dominated by a change in presidential administrations, which dials up the uncertainty. "When things are more uncertain, rates tend to be more volatile," says Chen Zhao, head of economic research for real estate brokerage Redfin.

U.S. mortgage rates increased to a fresh six-month high this week, a trend that together with elevated house prices could further squeeze potential buyers from the market. The average rate on the popular 30-year fixed-rate mortgage climbed to 6.

How home buyers could get a little break even if yields stay high.

Rates on personal loans declined last week, giving qualified borrowers a chance to pick up a fair interest rate and finance a project, purchase or even unexpected bills. From December 30 to January 4,

Mortgage rates continued to climb up, as strength of the economy put upward pressure, while lack of entry-level supply remained an issue, the latest Freddie Mac Primary Mortgage Survey showed. 30-year fixed-rate mortgages averaged 6.