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.

Fifteen-year mortgage rates hit a one-month high today.

The Federal Reserve cut interest rates by a quarter point on Wednesday, as it was widely expected to, lowering borrowing costs for the third time since September.

On Wednesday, Dec. 10, the nation's central bank cut short-term interest rates by a quarter percentage point.

investors now confront an uncertain U.S. monetary policy outlook for the year ahead, clouded by persistent inflation, data gaps, and an impending leadership change at the Federal Reserve.