Assuming a 3.5% down payment and excluding tax and insurance, the typical payment at today’s 6.67% mortgage rate on a median-priced $440,000 home is roughly $2,731 per month. Last week, a median-priced home at a 6.77% mortgage rate would have cost homebuyers $2,760 per month—$29 more than what buyers would pay today.

Current mortgage rates are down and lower than they were seven days ago and in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

Average mortgage rates for July 7 remain steady at 6.80% for 30-year loans. Here's how rates compare and tips to get the best deal.