The average 30-year fixed rate mortgage was 6.55% yesterday, an increase of 0.04% since the day before. The 15-year fixed mortgage rate stood at 5.53%, up by 0.04%. The 30-year FHA mortgage averaged 5.83% yesterday, having risen by 0.03. Meanwhile, the 30-year jumbo mortgage rate was 6.82%, reflecting a decrease of 0.02%.
The bigger picture
On Monday, mortgage rates continued their Friday tumble, triggered by the jobs report. But by yesterday, they'd settled down and barely moved from the 10-month lows they'd reached on Monday evening.
Will they continue in that happy state today? Probably.
There are no economic reports on today's calendar to move them, and none on Friday either. A couple of tomorrow's reports could affect them, but they rarely have much impact.
So, is it plain sailing until next week's more interesting slate of reports, complete with key inflation and retail sales data? Maybe.
But, for the last six months, markets have frequently been buffeted by announcements concerning tariffs and deficit funding. And who knows if more of those might yet emerge to liven up the rest of this week?
Mortgage Rate Trends: Past 90 Days
Purchase Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.55% | 6.58% | +0.04% | -0.08% |
| 15-Year Fixed | 5.53% | 5.57% | +0.04% | -0.11% |
| 30-Year Fixed FHA | 5.83% | 7.03% | +0.03% | -0.1% |
| 30-Year Fixed VA | 5.91% | 6.06% | +0.02% | -0.11% |
| 30-Year Fixed USDA | 5.79% | 5.93% | +-0% | -0.18% |
| 30-Year Fixed Jumbo | 6.82% | 6.84% | -0.02% | -0.16% |
| 5/6 Year ARM | 6.54% | 6.57% | +0.02% | -0.17% |
Refinance Rates
| Loan Type | Rate | APR | Daily Change | Monthly Change |
|---|---|---|---|---|
| 30-Year Fixed | 6.6% | 6.63% | +0.02% | -0.11% |
| 15-Year Fixed | 5.53% | 5.57% | +0.05% | -0.11% |
| 30-Year Fixed FHA | 5.81% | 7.01% | +0.02% | -0.09% |
| 30-Year Fixed VA | 5.96% | 6.1% | +0.02% | -0.09% |
| 5/6 Year ARM | 6.58% | 6.61% | +0.05% | -0.19% |
Coming up
Although economic reports are usually the main drivers of changes to mortgage rates, they're not the only ones. The general mood in markets and economically consequential news can also affect those rates. News items concerning tariffs and deficit funding are especially influential at the moment.
Here's Comerica Bank's economics team's take on what's likely to happen over the rest of this week:
"The economic calendar is light this week. Productivity likely rebounded to growth in the second quarter, and unit labor cost increases slowed. Consumer credit likely rose at a modest pace for the second successive month in June."
Mortgage rates today
There's nothing on today's MarketWatch economic calendar beyond a panel appearance by a couple of senior Federal Reserve officials.
Tomorrow's main reports are:
- Initial jobless claims for the week ending Aug. 2
- Productivity in the second quarter of this year (Q2/25)
- Q2/25 unit-labor costs
- June wholesale inventories
- June consumer credit
We'll brief you about market expectations for these, which are important, tomorrow morning. Higher-than-expected actual figures tend to push mortgage rates upward, while lower-than-expected ones often pull them downward. On-forecast numbers frequently leave those rates unchanged.
