Mortgage rates remain stable, with the average 30-year fixed rate at 6.01%, down three basis points. 15-year fixed rate is up to 5.45%. Current rates include 30-year VA at 5.60% and 15-year VA at 5.09%. Refinance rates are slightly higher. Experts don’t expect significant rate drops in the near future.

National average 30-year mortgage rate is 6.01%. Rates may vary by location, especially in high-cost cities. Despite federal funds rate cuts, mortgage rates have remained relatively stagnant since mid-October. Recent trend shows slight decrease in rates compared to a year ago.

Consider factors like credit score and debt-to-income ratio to secure a low mortgage refinance rate. Refinancing into a shorter term can lead to lower rates, although monthly payments will be higher. Experts recommend improving credit score and lowering debt-to-income ratio for better rates.

Read more at Yahoo Finance: A long stretch of stability