These are today's mortgage and refinance rates. Mortgage rates are up from one year ago, and they might not drop much this year.

Mortgage costs stayed stubbornly high in 2024, with 30-year fixed rates holding well above 6% for most of the year. Unfortunately for buyers, 2025 isn't looking much better. The Federal Reserve has been cutting interest rates,

Thus, I’m forecasting that, based on the 6.85% rate at year-end 2024, mortgages will run between 7.55% and 6.15% in 2025. Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

Mortgage rates rose again this week to end the year slightly higher than where they began. The average 30-year fixed-rate mortgage rate was 6.85% for the week through Wednesday, according to Freddie Mac data. That’s up from 6.72% a week earlier. Average 15-year mortgage rates rose to 6% from 5.92%.

After a recent surge to their most expensive level since early July, 30-year mortgages ticked down Friday. Rates for most other loans were down or flat.