Mortgage interest rates are consistently declining again. Here are three things homebuyers should do in response.

Current mortgage rates are up, but lower 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.

Mortgage rates drop slightly this week. The 30-year fixed sits at 6.75% and the 15-year at 5.77%. What’s driving the changes?