Mortgage rates are always in flux, but homebuyers should expect more turbulence than usual over the next few months. Since starting his second term, President Donald Trump is moving forward on some of his policies around immigration and trade,

After falling for four days and then holding at that level for another day, rates on 30-year mortgages added points Thursday, as did most other loan types.

These are today's mortgage and refinance rates. Mortgage rates may not fall as much as initially expected this year thanks to sticky inflation.

The current mortgage rate on a 30-year fixed mortgage fell by 0.14 percentage point in the last week to 6.97%, according to the Mortgage Research Center. Meanwhile, the APR on a 15-year fixed mortgage dropped 0.

After shooting up last week to a 7-month high, rates on 30-year mortgages have moved the other way—falling four days in a row and now holding at that lower level.

The average rate on the 30-year fixed-rate mortgage fell 12 basis points to 6.94% in the week ending Jan. 23, according to rates provided to NerdWallet by Zillow. A basis point is one-one hundredth of a percentage point. The previous week had been the first time that the 30-year rate had inched above 7% since May.