Check out CNET Money's weekly mortgage rate forecast for a more in-depth look at what’s next for Fed rate cuts, labor data and inflation. While average 30-year fixed mortgage rates have remained close to 7%,

Mortgage rates today are steady, but loan demand fell 10% after recent rate increases. See what’s driving today’s trends.

With the Federal Reserve's July meeting on the horizon, many prospective homebuyers and homeowners are wondering what it could mean for mortgage rates. After years of relatively high borrowing costs, even the slightest dip could open doors for those hoping to buy or refinance. But the path forward is far from clear.

Historic mortgage rate trends. During the last three years, mortgage rates have been on the rise. In early 2022, the average 30-year fixed rate was 4.72% and the 15-year fixed rate was 3.91%.

After a historical rate plunge in August 2021, mortgage rates skyrocketed in the first half of 2022. Indeed, the 30-year average's mid-June peak of 6.38% was almost 3.5 percentage points above its ...