MarketWatch spoke to several economists about their 2025 forecasts. The consensus was that they expect the rate on the 30-year fixed mortgage to drop to a 6.2% level by the end of 2025, but to not go below that.

Realtor.com's 2025 housing forecast released Wednesday indicates mortgage rates will come down next year -- but not as much as potential buyers and sellers would like.

Rates for 30-year new purchase mortgages fell again, lowering the average to its cheapest level in six weeks. Rates moved lower for almost every other loan type as well.

"While we may see mortgage rates drop modestly in December, anyone expecting a significant change for the better may be disappointed," says Darren Tooley, senior loan officer at Cornerstone Financial Services. Change likely isn't on the horizon for a few reasons, according to Tooley.

These are today's mortgage and refinance rates. Mortgage rates might not drop much this month, but they're expected to go down in 2025.

Rates for 30-year new purchase mortgages fell Friday, lowering the flagship average to it cheapest level since mid-October. Rates on other loan types showed mixed movement.