Today’s average mortgage rate on a 30-year fixed-rate mortgage is 7.32%, down 0.04 percentage point from the previous week, according to Curinos. Borrowers may be able to save on interest costs by going with a 15-year fixed mortgage,

Mortgage rates are starting 2025 at the highest they've been since last summer on expectations that the Fed will keep rates higher longer.

January is dominated by a change in presidential administrations, which dials up the uncertainty. "When things are more uncertain, rates tend to be more volatile," says Chen Zhao, head of economic research for real estate brokerage Redfin.

Lowering your interest rate can save you money over the life of the loan. Here are seven ways to make it happen.