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U.S. 30-Year Mortgage Rate Falls to 6.43%, Lowest in Seven Weeks

The drop gives modest relief to buyers, leaving affordability pressures intact.

FILE - A "For Sale" sign is seen on Tuesday, Jan. 6, 2026, in Portland, Ore. (AP Photo/Jenny Kane, File)
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Green toy houses and red percentage signs replacing the noughts and crosses of the classic Tic Tac Toe game. Illustration of the concept of the challenge of high interest rate to mortgage loans
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Overview

  • Freddie Mac’s Primary Mortgage Market Survey, released Thursday, July 2, showed the 30-year fixed rate averaged 6.43% and the 15-year averaged 5.79%.
  • The decline was driven by easing oil prices and a dip in the 10-year Treasury yield that pushed investor demand for safer assets higher and reduced mortgage pricing in the short run.
  • Other trackers reported slightly higher averages—roughly 6.57% to 6.62%—highlighting methodological differences across Freddie Mac, the Mortgage Bankers Association and lender price indexes.
  • The lower rates have nudged purchase demand up, especially among higher-income and repeat buyers, but many moderate- and first-time buyers remain priced out because home prices and borrowing costs are still elevated.
  • What to watch next are incoming inflation and jobs reports and Federal Reserve signals, because stronger data could push Treasury yields and mortgage rates back up while weaker data would help sustain the recent easing.