US 30-Year Mortgage Rates Fall to Four-Month Lows After Jobs Data

Mortgage rates in the U.S. have seen slight decreases recently, providing modest relief to homebuyers amid economic uncertainty. The 30-year fixed-rate mortgage averaged around 6.72% as of late July 2025, holding steady within a narrow range for several weeks, while the 15-year fixed rate also edged down slightly. These small declines align with a broader trend of moderating house prices and rising inventory, which together contribute to improved mortgage affordability. The Mortgage Banker's Association reported that the median monthly mortgage payment fell to its lowest level this year, driven by these factors and softening demand in key markets such as Oakland and Austin. Economic data revisions also suggest the labor market is weaker than previously thought, which has contributed to downward pressure on mortgage rates. Despite this, the Federal Reserve has kept rates steady through multiple meetings in 2025, maintaining a cautious stance amid uneven economic growth.