Posted on by Jeffrey Kam

Current Mortgage Rates & Forecasts Update

  • Current Rates:
    • As of April 23, 2025, the 30-year fixed mortgage rate is around 6.79%, and the 15-year fixed rate is at 6.11%, according to Zillow data. 
  • Forecasts:
    • The National Association of Home Builders (NAHB) expects 30-year mortgage rates to decrease to about 6.5% by the middle of 2025 and fall below 6% by the end of 2026, according to its latest outlook. 
    • The National Association of Realtors (NAR) projects mortgage rates will average 6.4% in 2025, falling to 6.1% in 2026, according to their latest forecast. 
    • Fannie Mae projects a 30-year, fixed-rate mortgage to average 6.5% in 2025 and 6.2% in 2026, according to its March Economic Developments Report.
  • Factors Influencing Rates:
    • Inflation: A key factor is the Federal Reserve’s response to inflation. If inflation continues to slow, the Fed may cut interest rates, potentially leading to lower mortgage rates. 
    • Economic Uncertainty: Concerns about a potential recession or other economic challenges can also influence mortgage rates, potentially pushing them down. 
    • Tariffs: Tariffs and geopolitical uncertainty can introduce volatility into the market, leading to short-term swings in rates, according to CNET.