According to a new analysis from Realtor.com, the number of American homeowners with mortgage rates above 6% has exceeded those with rates below 3%. In the third quarter of 2025, 21.2% of outstanding mortgages had rates of 6% or higher, while 20% had rates below 3%. While the pandemic era saw historically low rates, the report found that rates have remained above 6% since September 2022. Even though mortgage rates have dropped from the peak of 7.04% in January 2025, it’s evident that they’ll be hovering around 6% for the time being.
GOBankingRates consulted with real estate professionals to dive into the “new normal” of 6% mortgage rates and why people shouldn’t expect them to go down anytime soon, especially based on current economic conditions and future trends.
