Mortgage Rates Rise Slightly After Recent Declines

National averages for 30-year mortgage and refinance rates ticked up Thursday, but remain near recent lows for 2025.

The national average for 30-year fixed refinance mortgages increased by 2 basis points to 7.11%, following a significant drop earlier in the week.
New purchase 30-year fixed mortgage rates also rose by 4 basis points, reaching 6.98%, though still lower than last week's peak of 7.13%.
Rates for other loan types, including 15-year fixed and jumbo loans, experienced slight increases, reflecting mixed movement across categories.
The Federal Reserve's recent rate cuts and ongoing caution about future reductions have influenced bond markets, contributing to recent mortgage rate fluctuations.
Borrowers are advised to compare rates across lenders, as regional variations and individual qualifications can significantly impact final loan terms.