Current mortgage rates are down, but higher 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%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

Key Takeaways Mortgage rates have been elevated for the better part of three years, and many are anxious to see them move lower.While a modest drop in mortgage rates will help improve market conditions,

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