So far this year, average mortgage rates have stayed stubbornly high, bouncing between 6.5% and 7%, as financial markets weigh the risks of both higher inflation and an economic slowdown. Most homeowners,

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 6.79% from 6.88% Applications to refinance a home loan rose 7% last week compared with the previous week.

Major industry organizations, including the Mortgage Bankers Association, Freddie Mac and Fannie Mae, expect mortgage rates to close in 2025 at about 6.5% or so. As of March 2025, mortgage rates have rested between 6% and 7% for months,