Mortgage Rates Today – July 13, 2025: Rates Spike Overall Compared to Last Week

As of today, July 13, 2025, mortgage rates remain fairly stable with slight increases in some areas while refinance rates have shown signs of decline. According to Zillow, the national average for a 30-year fixed mortgage is at 6.87%, up from the previous 6.77% last week. Meanwhile, the average for a 30-year fixed refinance rate has decreased to 7.06% from 7.10%.

Mortgage Rates Today – July 13, 2025: Rates Spike Overall Compared to Last Week

Key Takeaways

• 30-Year Fixed Mortgage Rate: 6.87% (up 0.10% from last week).
• 15-Year Fixed Rate: 5.90% (up 0.10%).
• 5-Year ARM Rate: 7.86% (down 0.04%).
• 30-Year Fixed Refinance Rate: 7.06% (down 0.04%).
• Federal Reserve’s potential rate cuts could influence future mortgage rates, showing mixed signals for buyers.

Current Mortgage Rates Overview

Today's mortgage rates reflect a balance between buyer demand and economic factors that impact lending costs. The national averages cover both fixed and adjustable-rate mortgages (ARMs), as well as government loans. Understanding the differences between the loan types is essential for making informed decisions.

Table: Current Mortgage Rates as of July 13, 2025

Loan Type	Rate	1-Week Change	APR	1-Week Change
30-Year Fixed Rate	6.87%	+0.10%	7.32%	+0.09%
20-Year Fixed Rate	6.44%	+0.09%	6.81%	+0.12%
15-Year Fixed Rate	5.90%	+0.10%	6.20%	+0.09%
10-Year Fixed Rate	5.78%	+0.17%	5.99%	+0.22%
7-Year ARM	7.74%	+0.39%	8.22%	+0.42%
5-Year ARM	7.86%	-0.04%	8.11%	-0.12%

Exploring Refinance Rates

Refinancing is an option for homeowners looking to lower their monthly payments or tap into equity for cash needs. The current refinancing landscape shows mixed results, with some rates falling while others remain steady. Understanding the rationale behind these changes can empower homeowners to make thoughtful decisions about their financial future.

Table: Current Refinance Rates as of July 13, 2025

Loan Type	Rate	1-Week Change	APR	1-Week Change
30-Year Fixed Refinance Rate	7.06%	-0.04%	7.32%	+0.09%
20-Year Fixed Refinance Rate	6.44%	+0.09%	6.81%	+0.12%
15-Year Fixed Refinance Rate	5.92%	-0.11%	6.20%	+0.09%
10-Year Fixed Refinance Rate	5.78%	+0.17%	5.99%	+0.22%
7-Year ARM Refinance	7.74%	+0.39%	8.22%	+0.42%
5-Year ARM Refinance	8.04%	-0.02%	8.11%	-0.12%

Impact of Economic Factors on Mortgage Rates

Several key economic indicators and policies influence mortgage rates. The Federal Reserve's decisions, including rate cuts and economic growth projections, create ripples throughout the mortgage market, directly affecting consumer borrowing costs.

Federal Reserve's Recent Discussions

During the Fed's recent meeting in June 2025, officials discussed potential cuts to interest rates, with some members advocating for immediate action. The predictions indicate that the federal funds rate could fall close to 3.9% by the end of 2025, significantly impacting mortgage rates.

• Rate Cuts: If the Fed reduces rates, mortgage lenders may adjust their offerings, leading to lower rates for consumers. This is particularly beneficial for new homebuyers and those considering refinancing.
• Economic Outlook: A slower economy, coupled with rising unemployment, typically prompts the Fed to cut rates in an attempt to stimulate growth. Current projections suggest unemployment might rise to 4.5% in the coming months, which could influence Fed policy.

Economic Climate Influences Rates

• Inflation and Tariffs: Rising tariffs have contributed to inflation, creating uncertainty in the market. Fed Chair Jerome Powell indicated that the Fed views this as a temporary shock, complicating decisions regarding rate hikes or cuts.
• Economic Growth: The GDP growth forecast for 2025 is around 1.4%, lower than previous expectations. This slowdown can lead to lower consumer demand for housing, which in turn affects mortgage rates.

Current Trends and Projections

The recent stability in mortgage rates offers a unique opportunity for potential homebuyers and current homeowners alike. While rates remain elevated, the overall trend hints at possible future adjustments, depending on the Fed’s actions.

• Market Predictions: Some analysts suggest that if economic conditions do not improve, mortgage rates are likely to decline over the next few years. Predominantly, the consensus is that rates could stabilize around 5% by 2028 if the Fed follows through with anticipated cuts.

Personal Observations on Future Trends

Based on observations of various market behaviors, consumers should closely monitor inflation trends and employment rates since they affect Fed projections. A positive turn in either area could stimulate more favorable mortgage rates.

Navigating the Mortgage Process

For both first-time buyers and those considering refinancing, understanding these rates and the broader market context is essential. Whether you are planning to buy a home, invest in property, or refinance your existing mortgage, knowing where rates currently stand can help you make informed decisions that align with your long-term financial goals.

How Mortgage Rates Are Determined

Mortgage rates are influenced by various factors including:

• Lender Policies: Individual lenders may offer different rates based on their financial situations and policies.
• Credit Scores: Borrowers with higher credit scores typically receive better rates.
• Loan-to-Value Ratio (LTV): A lower LTV can often secure a better rate, as it indicates less risk to the lender.

Summary:

In the end, today’s mortgage rates reflect a stable yet responsive market that is sensitive to economic changes. While potential rate reductions loom on the horizon, buyers and homeowners should evaluate their personal circumstances and financial goals carefully. Understanding the nuances of these rates can lead to more strategic decisions that maximize opportunities in real estate.