As we enter the second half of 2025, many homeowners and hopeful buyers are wondering: Is now the right time to refinance or purchase a home? With the economy continuing to shift and housing markets showing signs of adjustment, it’s a smart move to pause and re-evaluate your mortgage strategy.

Here’s a quick mid-year mortgage check-in to help guide your next steps.

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1. 📉 Rates Remain Steady Just Under 7%

As of July 17, the average 30‑year fixed mortgage rate was 6.75 %, staying below 7 % for 26 consecutive weeks Real Atlas+3The Mortgage Reports+3New York Post+3The Mortgage Reports+1FRED+1.

Another tracker reported 6.742 % on July 22 The Mortgage Reports+2Fortune+2Freddie Mac+2, while the FRED database noted 6.75 % on July 17 FRED.

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