Mortgage Rates Today, August 4, 2025: 30-Year Rates Rise to 6.74%
Mortgage rates have been relatively high so far this year, and they're unlikely to significantly drop in the near term. The Federal Reserve announced at the close of its July meeting that it would continue to hold its benchmark rate steady at a range of 4.25% to 4.50%. While mortgage rates aren't directly impacted by Fed rate decisions, they often move up or down based on how investors expect the economy to be impacted.
With the Fed keeping rates steady, mortgage rates will likely remain near their current levels for now, especially since inflation has remained elevated in recent months.
Top mortgage rates today
Current mortgage rates are up, but lower than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. But rates are still relatively high as fears around stubborn inflation have kept the Federal Reserve from lowering its benchmark rate so far this year.
Mortgage rates change regularly, so compare offers and consider the personal and market factors that influence your quoted mortgage rate.
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