Current mortgage rates are down and lower 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 so far this year.

The average 30-year fixed mortgage is now 6.58%, falling after last Friday's weak jobs report increased the likelihood the Fed will cut interest rates next month.

Rates on new 30-year loans have fallen two days in a row, pushing the average to its lowest level since early April. Rates have moved lower for other loan types as well.