Mortgage rates remain largely unchanged heading into the final weekend of July, with the 30-year fixed staying at 6.625% and the 15-year at 5.75%. As market watchers look toward the next Fed meeting, homebuyers face persistent affordability challenges despite some rate stability.
Today’s mortgage rates – July 25, 2025
Zillow Home Loans reports the following averages for today:
- 30-Year Fixed: 6.625% (APR: 6.784%)
- 15-Year Fixed: 5.75% (APR: 6.042%)
- 30-Year FHA: 6.375% (APR: 7.060%)
- 30-Year VA: 6.500% (APR: 6.798%)
- 20-Year Fixed: 6.625% (APR: 6.831%)
- 7-Year ARM (adjustable): 7.375%
These rates reflect standard point costs ranging from 1.5–1.8%, with actual pricing subject to credit, location, and down payment size.
Week-over-week trend: Flat, but eyes on the Fed
Mortgage rates have remained mostly flat this week after a mild uptick earlier in the month. While the Federal Reserve hasn’t announced a rate hike recently, market volatility continues to drive slight rate movement.
What’s keeping rates from falling:
- Stubborn inflation data
- Uncertainty around the Fed’s next move
- Strong consumer demand despite high borrowing costs
Tips to secure a lower rate now
Homebuyers and refinancers looking for better-than-advertised rates can take several steps:
- Boost your credit score – Aim for 740+ to get top-tier pricing
- Increase your down payment – 20% or more can significantly reduce your rate
- Reduce your debt-to-income ratio – Keep it below 36%
- Shop multiple lenders – Comparison shopping may save thousands
- Ask about rate buydowns or points – You may be able to negotiate lower rates
Should you buy or refinance now?
With 30-year fixed rates hovering in the mid-6% range, today’s market still favors buyers with stable finances and long-term plans. However, for those locked into older 2–4% loans, refinancing rarely makes sense unless consolidating other debt.
For potential buyers:
- Yes, if you’re financially ready and plan to stay put for 7+ years
- Maybe, if you can find a home with an assumable mortgage — older VA or FHA loans might offer sub-4% rates
- No, if you’re stretching your budget to compete in an overheated local market
Spotlight: Assumable mortgages gaining traction
With many homeowners sitting on historically low rates, a new trend is gaining buzz: assumable mortgages.
Tech startup RetroRate is helping buyers identify and pursue homes with assumable government-backed loans. In some cases, buyers can take over 3%–4% loans and save more than $1,000 per month — if they can handle the paperwork and cover any equity gaps.