Mortgage rates hold steady July 23, 2025, with 30-year fixed at 6.625%. Trump hints at capital gains tax cut for home sales.

With the Federal Reserve's July meeting on the horizon, many prospective homebuyers and homeowners are wondering what it could mean for mortgage rates. After years of relatively high borrowing costs, even the slightest dip could open doors for those hoping to buy or refinance. But the path forward is far from clear.

Could we see lower mortgage rates in July? Eyes are again turning to the Federal Reserve, which meets at the end of the month. The ink is barely dry on last week’s decision to hold rates steady, but rumors of a potential July rate cut are already swirling.

Today's 30-year mortgage rate is 6.625%, with 15-year rates at 5.75%. Here's how to get the best rate and what we're watching this week.

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The likelihood of a rate cut in July is low, but at least one member of the Federal Open Market Committee is advocating for one.

Trump is fed up with Powell, but experts say Americans seeking cheaper interest rates and lower prices shouldn’t be rooting for the Fed chair to be forced into an early exit.

U.S. households fared far better when applying for credit for mortgage refinancing or auto loans in June, new figures on credit access from the Federal Reserve Bank of New York show. The bank said Monday that rejected applications for mortgage refinancing dropped to 15% in June,