Mortgage rates moved higher for the second week in a row, according to Freddie Mac. The average rate on a 30-year loan reached 6.75%.

The average rate on a 30-year U.S. mortgage rose for the second week in a row, another setback for the U.S. housing market, which is mired in a sales slump as affordability constraints shut out prospective homebuyers.

The average rate on 30-year fixed home loans increased to 6.72% for the week ending July 10, up from 6.67% last week.

“Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy,” says Joel Kan, deputy chief economist at the Mortgage Bankers Association.

Mortgage applications dropped 10.0% amid rising interest rates and post-holiday adjustments.   Refinance activity declined 7%, while purchase app

Mortgage rates on July 17, 2025, hold steady as 30-year fixed sits at 6.625%. Here’s what today’s numbers mean for buyers and refinancers.