Best Mortgage Refinance Rates - Jul. 18, 2025
Digest more
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.
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.
Existing homeowners have also been affected by the switch from ultra-low fixed-rate mortgages to new ones, making new payments at today's rates.
Irish mortgage interest rates fell to their lowest rate in over two years in May, according to new figures from the Central Bank.
For the second time this year, the Canadian Real Estate Association has downgraded its forecast for home sales in 2025, even as it reported the number of homes changing hands across the country in June rose 3.
The Reserve Bank shocked most experts, and borrowers, by keeping interest rates on hold in July, but does it mean we might see a super-sized cut in August?
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.
Feedback