Mortgage Rates Hold Steady Amid Subtle Market Shifts | Today, July 24, 2026

Today’s mortgage rates

Mortgage borrowers got slightly better market conditions Friday: the 10-year Treasury yield came in at 4.683%, down 2.8 basis points from 4.711%, a modestly favorable signal for mortgage rates on an otherwise quiet day. Stocks also pointed to a risk-off tone, with the Dow down 0.97%, the S&P 500 down 1.21% and the Nasdaq down 2.15%, while CNN’s Fear & Greed Index fell 4.4 points to 38.8, in fear; oil dropped $1.30 to $89.58 a barrel and gold slipped $20.30 to $4,058 an ounce, leaving a broader market backdrop that leans a bit rate-friendly even without a strong catalyst.

Freddie Mac’s benchmark 30-year mortgage rate came in at 6.58%, while media coverage stayed mixed, with some outlets highlighting rates below 6.5% and others calling the 30-year rate a one-year high. The next potential jolt for borrowers is this morning’s New Home Sales report at 10:00 a.m. ET, with next week’s Federal Reserve meeting still the bigger event to watch for any change in rate momentum.

Although rates have elevated from recent lows, see if refinancing makes sense or tapping home equity is prudent. For home buyers, explore expert advice for 2026 and check if you qualify for financial assistance programs or more flexible loan options.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached 6.651%.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to 6.001%.

The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged 6.39%.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

What experts are expecting

Ralph DiBugnara, president at Home Qualified

“I expect rates to stay in a relatively similar range as where they ended in March, likely hovering in the low-to-mid 6% range. Current global uncertainty and inflation data will keep volatility in play. Also any rate cuts at all by the Fed may be in jeopardy now so that will keep markets frozen some. Unless we get a clear cooling signal from the Fed, don’t expect a drop. The 30-year fixed should average around 6.25% with the 15 year fixed at 5.875%“

Any specific rate figures above reflect this expert’s personal opinion and forecast. They are illustrative only, are not an offer or commitment to lend, and are not an advertised rate. Your actual rate and APR depend on your credit, loan amount, down payment, property and other factors, and will vary by lender.

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published. The data mostly compares to roughly the same time the business day before, so much of the movement will often have happened in the previous session.

• The yield on 10-year Treasury notes decreased to 4.683% from 4.711% (Good for mortgage rates). Mortgage rates often follow these Treasury bond yields.
• Major stock indexes dropped this morning. (Good for mortgage rates.) When investors sell shares and move into bonds, bond purchases can push prices up and yields down, potentially easing mortgage rates.
• Oil prices decreased to $89.58 from $90.88 a barrel. (Good for mortgage rates.*)
• Gold prices decreased to $4,058.0 from $4,078.30 an ounce. (Bad for mortgage rates.*)
• CNN Business Fear & Greed Index decreased to 38.8 from 43.2 out of 100. (Good for mortgage rates.) “Fear” suggests investors are seeking safety, supporting bond prices.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.

So, use markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caveat, mortgage rates today might nudge upward or barely budge. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

This week’s calendar is light, and Friday looks especially quiet for mortgage shoppers. Early market signals lean a little rate-friendly: the 10-year Treasury yield fell to 4.683% from 4.711%, a 0.028-point drop, while stocks sold off, with the Dow down 0.97%, the S&P 500 down 1.21% and the Nasdaq down 2.15%. Oil also backed off, with WTI crude at $89.58 per barrel, down $1.30 from $90.88. Those moves can help ease pressure on mortgage rates, but there’s no clear driver here pointing to a sharp move lower.

Wednesday starts with the Mortgage Bankers Association’s mortgage applications survey at 7:00 a.m. ET. That report gives a read on purchase and refinance demand, though it usually matters more as a housing pulse than a direct rate mover. At 10:30 a.m., the Energy Information Administration releases its petroleum status report, which can move oil prices and inflation expectations if inventories come in far from forecasts.

Thursday is the busier day. Weekly jobless claims hit at 8:30 a.m. ET and tend to matter because labor-market softness can pull Treasury yields lower, which is often good for mortgage rates. The EIA natural gas report follows at 10:30 a.m. ET, and the Federal Reserve’s balance sheet data lands at 4:30 p.m. ET. The balance sheet release usually isn’t a day-to-day mortgage-rate catalyst, but with next week’s Fed meeting getting more attention in financial headlines, traders may be watching for any sign of tighter or looser financial conditions.

Friday’s main report is new home sales at 10:00 a.m. ET. That one can move bonds if it shows housing demand running much hotter or colder than expected, though on most weeks it’s a second-tier event compared with inflation or jobs data. For now, the broader tone is cautious: CNN’s Fear & Greed Index slipped to 38.8 from 43.2, staying in fear territory, and gold fell to $4,058.0 an ounce from $4,078.3. Taken together, this looks like a week where mortgage rates can drift, but without a major economic catalyst, borrowers probably shouldn’t expect a big break.

Recent trends

Freddie Mac’s July 24 report put the weekly 30-year fixed mortgage rate average at 6.58%. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for the next year.

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its forecast on March 10 and the MBA updated theirs on March 23.

Of course, given so many unknowables, these forecasts might be even more speculative than usual. And their past record for accuracy — due to the volatile nature of interest rates — hasn’t been wildly impressive.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.

🏠 Equal Housing Lender. The Mortgage Reports, NMLS #1019791. Verify our licensing at NMLS Consumer Access. We do business in accordance with the Equal Credit Opportunity Act and federal Fair Housing laws. This article is for editorial and informational purposes only and is not an offer or commitment to lend; rates and terms are illustrative and subject to change without notice.