Current mortgage rates have dropped to about six point one nine percent for 30-year fixed loans, marking the lowest average in more than a year. Meanwhile, the 15-year mortgage rate averages near five point four four percent. This dip in rates makes buying and refinancing more accessible, motivating buyers who were previously on the sidelines to re-enter the market. Understanding these rates can help buyers and refinancers calculate affordable payment plans and guide sellers on market pricing strategies.