Since 2020, home prices have increased more than 40%. And while home price growth has since slowed, it's still up 5.1% on an annual basis. Prices are expected to increase by just under 2% in 2025, said Selma Hepp, chief economist at Core Logic.

After adding points the previous business day, 30-year mortgage rates moved lower, in line with the recent trend. Other loan types saw mixed movement.

These are today's mortgage and refinance rates. Mortgage rates are starting the year elevated, but they're expected to go down throughout 2025.