Will Mortgage Rates Get Better in 2025? Here’s What to Expect

Elevated mortgage rates and rising home prices are challenging buyers. Currently, the average 30-year mortgage rate is 6.47%, but rates are expected to decrease in 2025 as the Federal Reserve is likely to cut its benchmark rate. While rates may dip into the 4% range, the 5% range is more probable. To secure the best mortgage rate, buyers should improve their credit scores and shop around among lenders. Additionally, 15-year loans typically offer lower rates, though they come with higher monthly payments.