Mortgage and Refinance Rates Rise, Highlighting Persistent Disparities

National averages for 30-year fixed mortgages climb to 6.84%, with state-level variations and systemic barriers impacting accessibility.

The national average for 30-year fixed mortgage rates has risen to 6.84%, marking a steady increase over the past week.
Refinance rates for 30-year fixed mortgages have reached 6.98%, up from a recent low of 6.71%, reflecting broader economic trends.
Significant state-level disparities in mortgage rates persist, with lower averages in states like Florida and Texas (6.78%-6.81%) and higher rates in Alaska and Washington, D.C. (6.90%-6.94%).
Mississippi, Louisiana, and West Virginia report the highest mortgage denial rates, driven by economic challenges such as low income levels and limited credit access.
Federal Reserve policies, including recent rate cuts and a decision to hold rates steady in early 2025, continue to influence mortgage trends and market uncertainty.