Best Mortgage Refinance Rates - Jul. 18, 2025
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Mortgage rates moved higher for the second week in a row, according to Freddie Mac. The average rate on a 30-year loan reached 6.75%.
Mortgage rates on July 17, 2025, hold steady as 30-year fixed sits at 6.625%. Here’s what today’s numbers mean for buyers and refinancers.
In a week marked by wild headlines, mortgage rates remained relatively calm, thanks to improvements in mortgage spreads.
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.
US mortgage rates rose for the second straight week, with the 30-year rate hitting 6.75%, worsening an ongoing housing market slump as affordability continues to deter prospective homebuyers.
A surprise jump in inflation and signs of persistent wage growth this week has led Goldman Sachs to downgrade its Bank of England rate cut expectations for the rest of the year. The US investment bank Goldman still expects a rate cut in August from 4.
Economists generally expect mortgage rates to stay relatively stable in the coming months, with forecasts calling for the average rate on a 30-year mortgage to remain in a range between 6% and 7% this year.
Homeownership is often seen as a cornerstone of the American Dream. But for some who bought in recent years, it’s become a costly source of stress.
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