Average 30-year fixed mortgage rates fell to 6.455% on July 24, marking a 5.9 basis point decline from the prior day.
The average 30-year fixed mortgage rate dropped to 6.455% on July 24, 2026, down 5.9 basis points from the previous day, according to lender data. This marks the first time rates have fallen below 6.5% this year, reflecting recent shifts in bond markets and investor expectations for monetary policy easing.
The 15-year fixed rate rose slightly to 6.301%, up 11.4 basis points, while the 5/1 adjustable-rate mortgage declined 11.3 basis points to 6.223%. Refinance rates remained higher than purchase rates, with the 30-year fixed refinance rate at 6.621%. Last week, 30-year rates averaged 6.52%, with refinancing activity showing modest improvement.
The decline in longer-term rates may support housing affordability, though lenders note regional variations and credit conditions continue to influence borrowing costs.