Mortgage interest rates slipped lower over the past week, settling at the lowest level of 2025, but remaining elevated enough to stifle normal levels of buying and selling in the housing market.

For his part, Lewis says mortgage rates are poised to drop in February, after climbing above 7% in January. “The direction of consumer prices will have the strongest effect on mortgage rates in February. The core inflation rate should decline further, giving bond yields and mortgage rates room to fall, but not by a lot,” says Lewis.

Mortgage rates fluctuate daily, so a little volatility can always be expected. On Monday, the average rate on a 30-year fixed mortgage was around 6.96%, according to Bankrate data, which is 0.15% lower than January's peak of 7.11%. But February could see more turbulence than usual.

According to the latest data from Freddie Mac’s Primary Mortgage Market Survey, the average 15-year fixed mortgage rate is currently around 6.00%. That’s nearly a full percentage point lower than the average 30-year fixed mortgage rate, which is sitting in the upper 6.00% range.

Mortgage interest rates have fallen to their lowest point since mid-December, and have remained under 7% for the third consecutive week. The average rate on a 30-year fixed-rate mortgage fell

The current mortgage rate on a 30-year fixed mortgage rose by 0.01 percentage point in the last week to 6.92%, according to the Mortgage Research Center. Meanwhile, the APR on a 15-year fixed mortgage dropped 0.

Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage averaged 6.89%, pulling back from the 7% level. “The 30-yea