Mortgage rates continue to decrease, creating an advantage for buyers in the housing market.

From Yahoo Finance: 2025-07-03 12:05:00

Mortgage rates fell for the fifth consecutive week, with the average 30-year fixed rate at 6.67% and the 15-year rate at 5.80%, according to Freddie Mac data. Sellers are entering the market, giving buyers an advantage, says Freddie Mac’s chief economist. The 10-year Treasury yield also decreased, impacting mortgage rates.

The Federal Reserve’s federal funds rate influences interest rates for homes, but it has not cut rates in 2025 and is not expected to before Labor Day. The decline in mortgage rates over five weeks has led to a 2.7% increase in mortgage applications. Pending home sales rose 1.8% in May, per the National Association of Realtors.



Read more at Yahoo Finance: Mortgage rates drop for fifth straight week