Learn how Fed meetings affect mortgage rates and what it means for borrowers. Discover trends, impacts, and expert predictions on mortgage rates.

These are today's mortgage and refinance rates. Mortgage rates may only drop a little bit this year since the economy is still running strong.

“For Miami we see in 2025 that the prices of homes will go up by 4%. So, homeowners will see that investment continue to go up.” Aside from the migration we've seen from other states, Zillow experts say a new generation of buyers will impact prices: millennials.

Rates on 30-year refinance loans dropped another 2 basis points Wednesday, nudging to average down to 7.03%. That's now the cheapest level for 30-year refi rates since Dec. 18. In September, 30-year refinance rates plunged to a two-year low of 6.01%. But they then surged as high as 7.30%—before recently moving lower.

Buffalo, New York is set to be the hottest housing market of 2025, retaining its title from 2024, thanks to strong job growth and limited housing supply, according to a new report. As new jobs fuel competition for homes, the demand continues to outstrip availability, driving up prices in cities throughout much of the country.

In September, rates plunged to a two-year low, falling as far as 5.89%. But over the following three-plus months, the average surged almost 1.25 percentage points—before recently easing lower.

Thanks to a nationwide housing shortage, the prices of homes in the U.S. just keep going up. The median sales price of new houses sold in November 2024 was $402,600, and the average sales price

This demographic has “entered a stage of life where their incomes — and costs — begin to peak,” GoBankingRates said.

The U.S. housing market has been hurt by volatile mortgage rates, but a severe shortage of available homes is the most critical obstacle for would-be buyers, Zillow CEO Jeremy Wacksman said.

Fed interest rate moves can affect mortgage rates. But maybe not the way you expect. Moves by the Fed do not directly affect long-term fixed mortgage rates. They can, however, impact shorter-term loans, home equity financing and adjustable-rate mortgages.

VioletaStoimenova / Rates on 30-year refinance loans dropped another 2 basis points Tuesday, nudging to average down to 7.05%. That's now the cheapest level for 30-year refi rates since Dec. 18. In September,