"While we may see mortgage rates drop modestly in December, anyone expecting a significant change for the better may be disappointed," says Darren Tooley, senior loan officer at Cornerstone Financial Services. Change likely isn't on the horizon for a few reasons, according to Tooley.

These are today's mortgage and refinance rates. Mortgage rates might not drop much this month, but they're expected to go down in 2025.

Thinking about taking out a mortgage loan? Current mortgage rates drop to 6.88% for 30-year terms, while 15-year terms fall to 6.13%.

The current median interest rate is 6.88% for a 30-year fixed-rate mortgage and 6.13% for a 15-year fixed-rate mortgage

These are today's mortgage and refinance rates. Mortgage rates increased in recent months, and where they go next depends on the economy.

When it comes to mortgage rates, the labor market may have the biggest influence. Here’s why. Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter.

These are today's mortgage and refinance rates. Mortgage rates are supposed to drop next year, but that hinges on inflation remaining low.

Rates for 30-year new purchase mortgages fell Friday, lowering the flagship average to it cheapest level since mid-October. Rates on other loan types showed mixed movement.