US EditionMortgages Cool Off for Homeseekers: Today's Mortgage Rates for July 30, 2025
UNITED STATES, JUL 31 – The Federal Reserve's steady interest rates contributed to a slight 0.02% drop in the 30-year mortgage rate to 6.76%, while borrowing costs remain elevated amid inflation concerns.
- On July 31, 2025, mortgage rates declined slightly with the 30-year fixed rate dropping to 6.84% and the 30-year refinance rate to 7.00%.
- The Federal Reserve maintained its interest rate levels in July, while ongoing concerns about inflation, labor market dynamics, and tariffs continue to create uncertainty in the mortgage market.
- Pending home sales fell 0.8% in June from May and 2.8% compared to last year, while mortgage applications dropped 3.8% last week to their lowest since May.
- Deputy economist Joel Kan noted that ongoing doubts about the economic outlook and employment conditions are influencing the decisions of potential homebuyers.
- These modest rate declines provide limited relief but may not reverse sluggish home sales as rates remain above historical lows and homeownership stays near 65%.
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Associated Press News+5 Reposted by 5 other sources
Average rate on a 30-year mortgage eases again, offering modest relief for home shoppers
The average rate on a 30-year U.S. mortgage eased to where it was three weeks ago, modest relief for prospective homebuyers challenged by rising home prices and stubbornly high borrowing costs.
·United States
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Coverage Details
Total News Sources11
Leaning Left3Leaning Right1Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
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