Mortgage Refinance Rates for Jul. 16, 2025
Digest more
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 average rate on 30-year fixed home loans increased to 6.72% for the week ending July 10, up from 6.67% last week.
Headwinds for mortgage rates arrived Tuesday in the form of rising inflation, which likely ends the faint hopes of a Fed rate cut in July.
Mortgage rates are based on bonds and bonds don't like inflation. When inflation reports are higher than the market expected, rates tend to rise, all other things being equal. But today's inflation numbers were a bit lower than the median forecast.
If you’re under contract or nearing purchase, locking in today’s rate could hedge against near-term market volatility. Adjustable-rate loans remain less attractive for most borrowers, with the 7-year ARM now at 7.375%, notably higher than the 30-year fixed.
Today's movement in mortgage rates, in and of itself, is barely worth mentioning. The average lender remains close enough to Friday's levels but is technically just a hair higher. That fact is offset by the counterpoint that most of the past two months saw higher rates.
The average rate on 30-year fixed home loans decreased to 6.67% for the week ending July 3, down from 6.77% last week.
Consumers had dodged any inflationary impact from the trade war initiated by President Donald Trump this year, but that’s now changed.
Feedback