Mortgage rates reach the lowest level in nine months

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Current mortgage rate

Fixed mortgages of 30 years in this week’s survey had an average total of 0.33 discount and creation points. Reduction points are a means of reducing your mortgage rate, while creation points are costs that lenders invoice to create, examine and process your loan.

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Monthly mortgage payment at today’s rates

The median national family income for 2025 is $ 104,200, according to the American Department of Housing and Urban Development, and the median price of an existing house sold in June 2025 was $ 435,300, according to the National Association of Realtors. Based on a deposit of 20% and a mortgage rate of 6.63%, the monthly payment of $ 2,231 amounts to 26% of the monthly income of the typical family.

“Affairs is always a challenge,” explains Lisa Sturtevant, chief economist of Bright MLS, a registration service in the region of the Atlantic environment. “Some buyers are waiting for prices and prices to drop before entering the market.”

What will happen to mortgage rates in 2025?

Mortgage rates have not been so low since mid-October 2024. However, a perspective is in order: in the last nine months, the rates have evolved in a narrow range. These drops are not like the sharp declines seen at the start of the pandemic, or the big jumps which came in 2022 and 2023, while the federal reserve increased interest rates aggressively.

During last week’s meeting, the Fed decided to leave the rate of federal funds intact. Mortgage rates did not respond to the three consecutive reductions of the Fed last year – a reminder that fixed mortgage rates are not directly fixed by the Fed but by the appetite of investors, in particular for the bonds of the Treasury at 10 years. When there is uncertainty on the market, investors buy cash obligations, which in turn leads to yields – and, often, mortgage rates – downwards.

The US economy seems to be back on the right track: the gross domestic product increased by 3% in the second quarter, the American analysis office said on Wednesday. Meanwhile, President Donald Trump’s pricing policies were charged for an increase in inflation, which increased to 2.7% in June, compared to 2.4% in May. The Fed inflation objective is 2%. In addition, Wednesday afternoon, the yields of the treasure at 10 years had fallen below 4.3%.

• Methodology
  

  The National Bankrate.com national survey of the high lenders takes place every week. To conduct the average national survey, Bankrate obtains rate information from the 10 largest banks and economies in 10 major American markets. In the Bankrate.com national survey, our market analysis team brings together rates and / or yields on bank deposits, loans and mortgages. We have conducted this survey in the same way for over 30 years, and because it is regularly carried out as it is a precise comparison of apples and apples. Our prices differ from other national surveys, in particular the weekly published prices of Freddie Mac. Each week, Freddie Mac investigates lenders on rates and points based on the mortgages of purchase of conventional conventional houses of first row with a ready-to-value of 80%. “The lenders interviewed each week are a mixture of types of loans – riots, credit cooperatives, commercial banks and mortgage loan companies – is roughly proportional to the level of mortgage activities that each type commands on a national scale”, according to Freddie Mac.