Current mortgage rates are down, but higher than they were seven days ago and 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.

Mortgage rates moved up this week, with the 30-year fixed rate averaging 6.78 percent, compared to 6.72 percent the previous week, according to Bankrate’s latest lender survey.

Assuming a 3.5% down payment and excluding tax and insurance, the typical payment at today’s 6.67% mortgage rate on a median-priced $440,000 home is roughly $2,731 per month. Last week, a median-priced home at a 6.77% mortgage rate would have cost homebuyers $2,760 per month—$29 more than what buyers would pay today.