Mortgage interest rates slipped lower over the past week, settling at the lowest level of 2025, but remaining elevated enough to stifle normal levels of buying and selling in the housing market.

Mortgage rates are unlikely to see major drops any time soon, as economic markets wait to see what comes of the Trump administration’s sweeping actions. So, knowing that there may not be better deals to hold out for, should you refinance now?

Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage averaged 6.89%, pulling back from the 7% level. “The 30-yea