Mortgage and Refinance Rates Decline to Multi-Week Lows

Rates for 30-year loans have dropped consistently over the past week, reaching their lowest levels in months, though experts caution against expecting significant further declines.

Average 30-year fixed mortgage rates fell to 6.60%, marking a five-day decline and their lowest level in 11 weeks.
Refinance rates for 30-year fixed loans also dropped to 6.78%, the lowest point so far in 2025, after a week-long 19 basis point decrease.
Rates for shorter-term loans, such as 15-year fixed mortgages, also saw declines, with the average now at 5.74%.
Experts predict stability in mortgage rates near current levels, citing persistent inflation and the Federal Reserve's likely decision to maintain its benchmark rate in March.
Buyers are advised to act soon as spring competition in the housing market could drive up home prices, even if mortgage rates hold steady.