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Mortgage rates are stuck near 6.5%. A new housing law may make buying easier – eventually
Freddie Mac says the average 30-year mortgage is 6.49% as home sales fell 2.4% and lawmakers await Trump’s decision on a housing bill.
- The average 30-year fixed mortgage rate hovered at 6.49% this week, according to Freddie Mac, while existing home sales fell 2.4% in June, the National Association of Realtors reported.
- Renewed tensions between the United States and Iran have pushed the 10-year Treasury yield higher, which mortgage rates track, while investors worry rising oil prices could force the Federal Reserve to hike interest rates.
- The 21st Century Road to Housing Act becomes law Friday unless President Donald Trump vetoes it, despite Trump previously calling the legislation 'of minor importance compared to lower interest rates.'
- Despite declining sales, the median existing home sales price reached a record $440,600 in June, as NAR chief economist Lawrence Yun noted buyers remain highly sensitive to affordability conditions.
- Zillow senior economist Kara Ng projects mortgage rates could drift to 6.3% by late 2026, though experts warn the new housing legislation may not immediately improve prices or availability.
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13 Articles
13 Articles
Home buyers who expect a breath of respite in affordability as the spring buying season ends could face another disappointment.
Santa Maria TimesReposted by 
Independent Español
Independent EspañolThe average rate of long-term mortgages in the United States approached 6.5% this week, raising borrowing costs for potential home buyers.
·Calhoun, United States
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Coverage Details
Total News Sources13
Leaning Left1Leaning Right1Center10Last UpdatedBias Distribution84% Center
Bias Distribution
- 84% of the sources are Center
84% Center
C 84%
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