The current average mortgage rate on a 30-year fixed mortgage is 6.9%, compared to 6.83% a week earlier, according to the Mortgage Research Center. For borrowers who want a shorter mortgage, the average rate on a 15-year fixed mortgage is 5.

If you look at the biggest industry forecasts, analysts predict that mortgage rates will either hold steady or drop slightly in the near term. Fannie Mae currently predicts that the average 30-year mortgage rate will end the first quarter at around 6.7%, while the Mortgage Bankers Association predicts a much higher 7%.

These are today's mortgage and refinance rates. Mortgage rates have held steady so far this month, and it's unclear if they'll drop much this year.

The rate on a 30-year fixed refinance decreased to 6.98% today, according to the Mortgage Research Center. Rates averaged 5.96% for a 15-year financed mortgage and 6.85% for a 20-year financed mortgage.

After rising for two days, 30-year new purchase mortgage rates shaved off several points Thursday, moving the average back down to 6.87%. Rates declined for many other mortgage types as well. Since rates vary widely across lenders,

See current 30-year refinance rates and how they've been trending. Find the lowest rates to save on your mortgage, lower your payments, or access home equity.