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.

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 rates inched up this week but stayed within a narrow range under 7%, according to the latest Freddie Mac Primary Mortgage Survey.

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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.

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.

With the Federal Reserve's July meeting on the horizon, many prospective homebuyers and homeowners are wondering what it could mean for mortgage rates. After years of relatively high borrowing costs, even the slightest dip could open doors for those hoping to buy or refinance. But the path forward is far from clear.