Thinking about taking out a mortgage loan? Current mortgage rates rise to 6.99% for 30-year terms, while 15-year terms remain at 6.25%. Valerie Morris is a content editor with a focus on personal finance. She has seven years of experience editing copy for ...

This uptick underscores the challenges facing the Federal Reserve, which began easing interest rates in September in response to declining price pressures and signs of a weaker labor market. The Fed slashed its benchmark rate by 0.

The current median interest rate is 6.99% for a 30-year fixed-rate mortgage and 6.25% for a 15-year fixed-rate mortgage