Mortgage rates for 30-year loans are now at their most expensive level since early May of last year. Most other new purchase loan types increased as well.

Mortgage rates are up today, but still under 7%. Today’s national average on a 30-year fixed-rate mortgage is 6.96%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 6.

Early forecasts called for a gradual decline in mortgage rates (potentially reaching 6% by the end of 2025), but concerns over a potential recession and uncertain trade policies h