Jul. 24, 2025 – Rates Hold Firm
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Analysts believe a modest drop in mortgage rates could prove to be a "magic bullet" for the U.S. housing market.
The average rate on 30-year fixed home loans increased to 6.75% for the week ending July 17, up from 6.72% last week.
Mortgage rates retreated this week, with the 30-year fixed rate averaging 6.76 percent, compared to 6.81 percent the previous week, according to Bankrate’s latest lender survey.
Inflation has come down in 2025 — but the latest figures are still well above the 2 per cent target and rising
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The lowest fixed rate mortgage deals have dipped below 3.8 per cent - and there is an expectation that rates may fall slightly further.
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Inflation is dropping. Will mortgage rates fall, too? While the inflation rate has not yet met the target rate of 2% set by the Fed, the new inflation data shows significant progress.
After a five-week decline, mortgage rates have now climbed for three straight weeks. But that doesn't necessarily mean you should hit pause on your house hunt.