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Current mortgage rates report for April 23, 2025: Rates head upward again

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See Wednesday's report on average mortgage rates on different types of home loans so you can pick the best mortgage for your needs as you house shop.
On April 23, 2025, mortgage rates have seen a slight increase, with the average 30-year fixed-rate mortgage at 6.50% and the 15-year fixed-rate mortgage at 5.875%. The rise in rates is attributed to ongoing economic recovery and inflation concerns, prompting the Federal Reserve to maintain a cautious approach to monetary policy. Despite the uptick, homebuyers are still actively seeking properties, driven by a strong job market and rising wages, although affordability remains a challenge for many. Experts suggest that potential buyers should consider locking in rates soon, as they are expected to remain stable or increase slightly in the coming months.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-mortgage-rates-04-23-2025/ ]