The current average mortgage rate on a 30-year fixed mortgage is 6.23%, compared to 6.36% a week earlier, according to the Mortgage Research Center. For borrowers who want a shorter mortgage, the average rate on a 15-year fixed mortgage is 5.

Current mortgage rates are up today and higher 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%. But rates are still relatively high as fears around stubborn inflation have kept the Federal Reserve from lowering its benchmark rate until now.

Want to know how this week's Fed rate cut impacted the mortgage rate climate? Here are the latest interest rates.

The rate on a 30-year fixed refinance declined to 6.32% today, according to the Mortgage Research Center. The 15-year, fixed-rate refinance mortgage average rate is 5.37%. For 20-year mortgage refinances,

Explore current mortgage rates and what they mean for homebuyers.

Mortgage rates stay above 6% as Fed policy is set to shift, with spreads still historically wide and homebuyer affordability slowly improving.