These are today's mortgage and refinance rates. Mortgage rates are expected to ease this year, but that hinges on inflation coming down.

Mortgage rates inched up at the start of the year to the highest level in nearly six months, portending another tough year for the U.S. housing market. The 30-year mortgage rate remains at the highest level since July 2024. It averaged 6.91% as of Jan. 2, according to data released by Freddie Mac on Thursday.

After a recent surge to their most expensive level since early July, 30-year mortgages ticked down Friday. Rates for most other loans were down or flat.

These are today's mortgage and refinance rates. Mortgage rates are up from one year ago, and they might not drop much this year.

Mortgage costs stayed stubbornly high in 2024, with 30-year fixed rates holding well above 6% for most of the year. Unfortunately for buyers, 2025 isn't looking much better. The Federal Reserve has been cutting interest rates,