Mortgage Rates Drop to 6.44% for 30-Year Fixed on July 11

On July 11, the average 30-year fixed mortgage rate decreased by 3 basis points to 6.44%. The 15-year fixed rate fell by 9 basis points to 5.82%, while the 5/1 ARM reduced by 3 basis points to 6.43%. Refinance rates also saw a decline, with the 30-year fixed rate at 6.52%. These lower mortgage rates make home buying and refinancing more affordable for consumers, impacting the housing and mortgage markets.