In line with the upward trend in 10-year Treasury yields, mortgage rates saw a slight uptick this past week, as experts pointed to the elevated June inflation numbers and possible impacts of tariffs to predict rates could stay higher for the remainder of the homebuying season.
According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the 30-year fixed-rate mortgage (FRM) averaged 6.75%, an increase of 3 basis points from last week’s average of 6.72%.
“The 30-year fixed-rate mortgage inched up this week and continues to stay within a narrow range under 7%,” said Sam Khater, Freddie Mac’s chief economist. “While overall affordability headwinds persist, rate stability coupled with moderately rising inventory may sway prospective buyers to act.”
Realtor.com Economist Jiayi Xu, commented, “Notably, the impact of tariffs could be seen spilling over into several CPI categories—modest but meaningful enough to reinforce the market’s view that the Fed will hold the “wait and see” stance for longer. In other words, rates are likely to stay elevated through the remainder of the season, further compounding affordability challenges for homebuyers.”
This week’s numbers:
- The 30-year FRM averaged 6.75% as of July 17, 2025, up from last week when it averaged 6.72%. A year ago at this time, the 30-year FRM averaged 6.77%.
- The 15-year FRM averaged 5.92%, up from last week when it averaged 5.86%. A year ago at this time, the 15-year FRM averaged 6.05%.
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