Mortgage and refinance rates today, February 20, 2025: Rates keep inching down
Rates have ticked down this week, with the national average 30-year fixed rate decreasing by two basis points to 6.85%, while the 15-year fixed rate has fallen by five basis points to 6.04%. The Mortgage Bankers Association predicts the 30-year fixed interest rate will stay roughly the same for the first half of the year, then fall to 6.50% by Q4. Gradual changes in mortgage rates throughout 2025 may not significantly impact homebuying decisions.
- The decreasing trend in mortgage rates could mask underlying issues with affordability and access to credit, particularly affecting low-income borrowers or those in marginalized communities.
- As the economy continues to evolve, will lenders adjust their interest rate strategies to prioritize borrower need over profit maximization?