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Mortgage Rates Hold Steady Above 6.75%: Today's Rates, July 24, 2025
UNITED STATES, JUL 24 – The Federal Reserve maintains steady rates amid inflation and trade threats, with 30-year fixed mortgages averaging 6.77%, impacting housing affordability, experts say.
- Freddie Mac reported that as of July 24, 2025, the average rate for a 30-year fixed mortgage is 6.74%, down slightly from last week.
- This recent easing follows rates peaking above 7% in mid-January and dipping to 6.62% in early April, influenced by persistent inflation and economic uncertainty.
- Government deficits, increased bond supply, and tariff-driven inflation risks continue to exert upward pressure on mortgage rates despite the Federal Reserve's steady interest rate policy.
- Jeb Smith suggested that if inflation continues to ease and the job market weakens, interest rates might decline; however, ongoing uncertainty could result in rates remaining high in the short term.
- Elevated mortgage rates and high home prices maintain a sales slump in the U.S. housing market, limiting affordability and deterring many prospective buyers and sellers.
38 Articles
38 Articles
Average long-term U.S. mortgage rate eases to 6.74%
The average rate on a 30-year U.S. mortgage eased this week, offering little relief for prospective homebuyers facing record-high home prices. The long-term rate slipped to 6.74%, from 6.75% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.78%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.87%, from 5.92% last we…
Mortgage rates inch lower this week
Mortgage rates ticked lower this week, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.74% from last week's reading of 6.75%.The average rate on a 30-year loan was 6.78% a year ago.HOUSING CRISIS DEEPENS AS 47 MAJOR METRO AREAS NOW REQUIRE HOMEBUYERS TO SPEND MORE THAN 30% OF INCOME"This week, the 30-yea…
Associated Press News
Average long-term US mortgage rate eases to 6.74%, keeping home loan borrowing costs elevated
The average rate on a 30-year U.S. mortgage eased this week, offering little relief for prospective homebuyers facing record-high home prices.
Average US mortgage rate eases to 6.74%, but borrowing costs remain elevated
The average rate on a 30-year U.S. mortgage eased this week, offering little relief for prospective homebuyers facing record-high home prices.The long-term rate slipped to 6.74% from 6.75% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.78%.Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.87% from 5.92% last week. …
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