The rate on a 30-year fixed refinance dropped to 6.57% today, according to the Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.5%, and for 20-year mortgages, the average is 6.

Current mortgage rates are down and lower 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 so far this year.

Stay up to date on the current mortgage rates with Newsweek Vault. Our goal is to help you understand the why behind current mortgage rate fluctuations.