Mortgage rates expected to stay above 6% for rest of 2025, impacting affordability

Mortgage interest rates are down for the fifth week in a row, with current rates for a 30-year fixed-rate mortgage at 6.67% and a 15-year fixed-rate mortgage at 5.80%. However, rates are still higher than many buyers would hope for, leaving them wondering if it’s a good time to buy. The Federal Reserve is predicting steady mortgage rates for the rest of 2025, with the next meeting set for July 29-30. While rates have decreased incrementally over the past year, they are likely to remain above 6% throughout 2025 and 2026.

In the current housing market, buyers face high home prices and limited supply, making it challenging to find affordable homes. While mortgage rates have been decreasing slightly, they are expected to remain above 6% for the foreseeable future. Buyers should consider their financial situation and the overall housing market before deciding when to purchase a home.

Read more at Yahoo Finance: When will mortgage rates go down? The outlook for the second half of 2025.