Mortgage Refinance Rates on Jul. 14, 2025
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Stubbornly high mortgage rates have left leery homeowners and potential home buyers reluctant to take the plunge, according to a new Bankrate survey.
Whether you're buying a new home or considering mortgage refinancing, the main question is the same right now: When will rates drop? The interest rate environment has remained elevated across various lending products,
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, decreased to 6.77% from 6.79%, with points holding steady at 0.62, including the origination fee, for loans with a 20% down payment. That was the lowest level in three months.
While refinances are behind the latest increases, the pace of purchase activity may be a stronger indicator of where the housing market sits.
An out-of-date mantra that once lured in prospective homebuyers is being criticized by mortgage originators who say clients were “misled.”