As of Oct. 16, according to Credible data gathered from more than 500 U.S. lenders*, the median interest rate on a 30-year fixed-rate mortgage is 6.50%, which is unchanged from yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 5.75%, which is 0.13 percentage points lower than yesterday.

Rates on 30-year mortgages have wavered in a narrow range for more than a week, well above last month's sub-6% low. Rates for most loan types dipped Tuesday.

What many home buyers may not understand is multiple factors could cause mortgage rates to go up or down. Mortgage interest rates can also vary significantly between mortgage lenders. If you're considering taking out a home loan or a mortgage refinance, here's what you need to know about interest rates — and why they tend to fluctuate.

These are today's mortgage and refinance rates. Mortgage rates are up this month thanks to strong economic data. But they should fall in 2025.

After waiting years for interest rate cuts from the Federal Reserve, home buyers are now facing even higher mortgage rates.

Mortgage rates are creeping downward. But are sub-3% mortgages ever going to be in the cards again? Keep reading to find out.

These are today's mortgage and refinance rates. Mortgage rates have been elevated this month thanks to stronger-than-expected labor market data.

Unfortunately for prospective buyers, rising mortgage rates in the face of a Fed cut is a sign of a resilient economy.

A component of mortgage rates known as the spread has been falling in recent weeks after years of being elevated. If it keeps dropping, that could help send rates lower in the months ahead.