Mortgage Rates Today, July 28, 2025: 30-Year Rates Rise to 6.77%
Mortgage rates have been elevated recently as investors wait to see the economic effects of the Trump administration's tariff policies. In June, inflation rose 2.7% year over year, an acceleration from the previous month. It's still unclear if tariffs will push prices up further in the coming months. If they do, mortgage rates could climb higher this year. The Fed is expected to keep the federal funds rate steady at its meeting next week, which means mortgage rates are unlikely to fall soon.
Top mortgage rates today
Current mortgage rates are down and 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%. Even though Federal Reserve policy doesn't directly impact today's mortgage rates, they have been easing since the Fed began cutting rates in late 2024.
Mortgage rates change regularly, so compare offers and consider the personal and market factors that influence your quoted mortgage rate.
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