Current mortgage rates are up and higher than they were seven days ago and in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

What’s keeping mortgage rates elevated this year? Concerns about persistent inflation, threats of a global trade war and policy turbulence have created an uncertain economic out