These are today's mortgage and refinance rates. The Fed isn't expected to cut rates this week, but we may see mortgage rates fluctuate anyway.

Mortgage rates are up just a couple of basis points since last week, keeping them near their post-Christmas low. Rates on new 30-year fixed-rate loans averaged 6.98% on Friday, as compared to the 4-week low of 6.93%. 15-year loans saw their Friday-to-Friday average rise a more sizable 8 basis points, now up to 6.14%.

Even the Federal Reserve, which sets a short-term benchmark interest rate for lenders, only indirectly impacts the mortgage market. The Fed is expected to hold interest rates stea

Learn how Fed meetings affect mortgage rates and what it means for borrowers. Discover trends, impacts, and expert predictions on mortgage rates.

The Federal Reserve Board of Governors will announce the outcome of the January board meeting Jan. 29, and experts believe it may adjust its interest rate strategy. 2025 was initially expected to be a year of consistent interest rate cuts,