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%.
In a week marked by wild headlines, mortgage rates remained relatively calm, thanks to improvements in mortgage spreads.
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.
The average rate on a 30-year U.S. mortgage rose for the second week in a row, another setback for the U.S. housing market, which is mired in a sales slump as affordability constraints shut out 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.
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.
Mortgage delinquencies are rising across the U.S., especially in southern states like Florida, Georgia, and South Carolina, a study by Cotality found. Escrow payments have surged – up 62% in the last 5 years – likely due to rising property taxes and insurance premiums.
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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