Current mortgage rates are up and higher than they were seven days ago and in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

The average rate on 30-year fixed home loans increased to 6.72% for the week ending July 10, up from 6.67% last week.