From Yahoo Finance: 2025-05-24 06:00:00

Today’s mortgage rates have decreased slightly, with 30-year fixed rates at 6.94% and 15-year fixed rates at 6.09%. While not a significant drop, any relief from rising rates is welcomed. National averages for various mortgage types are provided, but rates can vary by location. Mortgage refinance rates are also slightly lower today.

It’s a relatively good time to buy a house compared to previous years. While mortgage rates are unpredictable due to the current climate, experts don’t foresee a significant drop in rates. Home price gains are slowing, potentially easing lower this year. Timing the real estate market is challenging, so buy when it’s right for you.

Securing a low mortgage refinance rate is similar to buying a home. Improving credit score, lowering debt-to-income ratio, and opting for a shorter term can help lower rates. Mortgage rates are expected to remain steady in 2025, with slight decreases seen compared to mid-January.

Read more: Mortgage and refinance interest rates today, May 24, 2025: A surprise move downward