Freddie Mac data shows that U.S. mortgage rates experienced slight fluctuations in July 2025. For the week ending July 17, the average 30-year fixed mortgage rate increased marginally to 6.75% from 6.72% the previous week, while the 15-year fixed mortgage rate rose to 5.92% from 5.86%. However, in the following week ending July 24, rates eased slightly, with the 30-year fixed mortgage rate dipping to 6.74% and the 15-year fixed mortgage rate decreasing to 5.87%. These movements reflect ongoing elevated mortgage rates impacting the housing market. Additionally, there is an emphasis on the importance of understanding mortgage schemes and preparing for potential increases in payments after fixed-rate periods end, as floating rates may rise. Refinancing rates also showed a downward trend by late July.