30-year fixed mortgage rates have dropped to around 6.5%, marking the lowest level since October 2024 AP NewsNew York Post.
15-year fixed rates also eased to approximately 5.6% AP News.
Economic uncertainty, especially weak employment data, is driving bond yields lower, which in turn is encouraging mortgage rate declines InvestopediaBarron's.
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.