These are today's mortgage and refinance rates. Mortgage rates are expected to ease this year, but that hinges on inflation coming down.

In 2024, the path to lower mortgage rates seemed relatively clear-cut: Official inflation would go down, the Federal Reserve would carry out more interest rate cuts and the cost of borrowing would gradually ease in 2025.

After a recent surge to their most expensive level since early July, 30-year mortgages ticked down Friday. Rates for most other loans were down or flat.

Thus, I’m forecasting that, based on the 6.85% rate at year-end 2024, mortgages will run between 7.55% and 6.15% in 2025. Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at [email protected]

These are today's mortgage and refinance rates. Mortgage rates dropped in the fall, but they've trended back up over the last few months.

Mortgage costs stayed stubbornly high in 2024, with 30-year fixed rates holding well above 6% for most of the year. Unfortunately for buyers, 2025 isn't looking much better. The Federal Reserve has been cutting interest rates,