Mortgage interest rates have edged down only slightly over the past 30 days. As of this week, the average U.S. rate for a 30‑year fixed mortgage is 6.22%, compared with 6.24% a month ago. Some borrowers have even reported securing rates below 6% through online lenders. While most forecasts anticipate a gradual decline continuing through 2026, it remains uncertain whether the market has already priced in the expected Federal Reserve rate cuts.
Relative to the long‑term average of 7.7%, today’s rates still offer meaningful savings, roughly $100 less per month for every $100,000 borrowed. Rates are also lower than they were a year ago. Over the past 12 months, the average monthly payment on a $100,000 30‑year fixed mortgage has dropped by about $45. For a borrower taking out the 2026 maximum conventional loan of $832,750, today’s payment would be approximately $380 lower than it would have been in December 2024.