Current mortgage rates are down, but higher than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

With the Federal Reserve's July meeting on the horizon, many prospective homebuyers and homeowners are wondering what it could mean for mortgage rates. After years of relatively high borrowing costs, even the slightest dip could open doors for those hoping to buy or refinance. But the path forward is far from clear.

When rates fell to around 6.7% (the lowest level in months) in early July, applications for home loans promptly ticked up, according to the Mortgage Bankers Association. But when the average 30-year fixed rate jumped to around 6.8% last week, mortgage activity plummeted 10%.

July 18 mortgage rates hold steady at 6.625% as builders offer discounts and incentives to attract hesitant buyers.

The average rate on 30-year fixed home loans increased to 6.72% for the week ending July 10, up from 6.67% last week.

Potential homebuyers may be able to save money with a little-known financing option, but they still need to watch their credit.

Whether you're buying a new home or considering mortgage refinancing, the main question is the same right now: When will rates drop? The interest rate environment has remained elevated across various lending products,

The interest rate for a 15-year fixed rate mortgage is typically lower than 30-year fixed rates, for a few reasons. For one, lenders can recoup their money in half the time.

Mortgage applications dropped 10.0% amid rising interest rates and post-holiday adjustments.   Refinance activity declined 7%, while purchase app