{"id":306,"date":"2025-07-21T10:00:06","date_gmt":"2025-07-21T10:00:06","guid":{"rendered":"https:\/\/wernikovlaptu.com\/?p=306"},"modified":"2025-07-21T13:05:55","modified_gmt":"2025-07-21T13:05:55","slug":"mortgage-rates-today-july-21-2025-rates-hold-firm","status":"publish","type":"post","link":"https:\/\/wernikovlaptu.com\/index.php\/2025\/07\/21\/mortgage-rates-today-july-21-2025-rates-hold-firm\/","title":{"rendered":"Mortgage Rates Today: July 21, 2025 \u2013 Rates Hold Firm"},"content":{"rendered":"

The current mortgage rate<\/a><\/span> on a 30-year fixed mortgage rose by 0.75% in the last week to 6.73%<\/strong>, according to the Mortgage Research Center.<\/p>\n

Meanwhile, the APR on a 15-year fixed mortgage climbed 0.03 percentage point during the same period to 5.7%.<\/p>\n

For existing homeowners, compare your current mortgage rates with today’s refinance rates<\/a><\/span>.<\/p>\n

<\/div>\n

!function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[“datawrapper-height”][t]+”px”;r.style.height=d}}}))}(); <\/p>\n

30-Year Mortgage Rates Climb 0.75%<\/h2>\n

Today’s 30-year mortgage\u2014the most popular mortgage product\u2014is 6.73%, up 0.75% from a week earlier.<\/p>\n

The interest rate is just one fee included in your mortgage. You’ll also pay lender fees, which differ from lender to lender. Both interest rate and lender fees are captured in the APR<\/a><\/span>. This week the APR on a 30-year fixed-rate mortgage is 6.76%. Last week, the APR was 6.71%.<\/p>\n

Let’s say your home loan is $100,000 and you have a 30-year, fixed-rate mortgage with the current rate of 6.73%, your monthly payment will be about $647, including principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator<\/a><\/span> shows. That’s around $133,711 in total interest over the life of the loan.<\/p>\n

15-Year Mortgage Rates Climb 0.53%<\/h2>\n

The average interest rate on a 15-year mortgage<\/a><\/span> (fixed-rate) jumped up to 5.7%. This same time last week, the 15-year fixed-rate mortgage was at 5.67%.<\/p>\n

On a 15-year fixed, the APR is 5.75%. Last week it was 5.72%.<\/p>\n

With an interest rate of 5.7%, you would pay $828 per month in principal and interest for every $100,000 borrowed. Over the life of the loan, you would pay $49,503 in total interest.<\/p>\n

Jumbo Mortgage Rates Drop 0.07%<\/h2>\n

On a 30-year jumbo mortgage (a mortgage above 2025’s conforming loan limit of $806,500 in most areas), the average interest rate fell to 6.95%, lower than it was at this time last week. The average rate was 6.95% at this time last week.<\/p>\n

Borrowers with a 30-year fixed-rate jumbo mortgage with today’s interest rate of 6.95% will pay $662 per month in principal and interest per $100,000. That means you’d pay roughly $138,639 in total interest over the life of the loan.<\/p>\n

Trends in Mortgage Rates for 2025<\/h2>\n

Although mortgage rates<\/a><\/span> mainly fell after reaching a high in spring 2024, they surged again in October 2024. This is despite the Federal Reserve\u2019s cuts to the federal funds rate (its benchmark interest rate) in September, November and December 2024.<\/p>\n

While rates have fallen somewhat since mid-January 2025, experts don\u2019t expect them to drop significantly anytime soon.<\/p>\n

When Can I Expect Mortgage Rates To Drop?<\/h2>\n

Mortgage rates are influenced by various economic factors, making it difficult to predict when they will drop<\/a><\/span>.<\/p>\n

Mortgage rates follow U.S. Treasury bond yields. When bond yields decrease, mortgage rates generally follow suit.<\/p>\n

The Federal Reserve’s decisions and global events also play a key role in shaping mortgage rates. If inflation rises or the economy slows, the Fed may lower its federal funds rate. For example, during the Covid-19 pandemic, the Fed reduced rates, which drove interest rates to record lows.<\/p>\n

A significant drop in mortgage rates seems unlikely in the near future. However, they may decline if inflation eases or the economy weakens.<\/p>\n

How Much House Can I Afford?<\/h2>\n

The first step on your homebuying journey should be to calculate affordability. You’ll want to find out how much you can afford based on things like income, debt and savings.<\/p>\n

Here are a few important factors that go into home affordability:<\/p>\n