Mortgage Rates Today – July 11, 2025: 30-Year FRM Spikes After a Period of Stability

As of today, July 11, 2025, mortgage rates are on the rise, with national averages for 30-year fixed mortgage rates climbing to 6.83% from 6.81% the previous day. The increase follows a period of relative stability in the mortgage market. This spike signals potential changes in the lending landscape that homeowners and prospective buyers should be aware of. In addition to borrowing costs rising, refinancing rates exhibit contrasting trends, with the average 30-year fixed refinance rate slightly decreasing to 7.04%.

Mortgage Rates Today – July 11, 2025: 30-Year FRM Spikes After a Period of Stability

Key Takeaways:

• 30-year fixed mortgage rate: Increased to 6.83%
• 15-year fixed mortgage rate: Stabilized at 5.86%
• 30-year fixed refinance rate: Decreased to 7.04%
• Expectations: Future trends may lead to fluctuations based on Federal Reserve policies

The latest movements in mortgage rates are influenced by various economic dynamics, including the ongoing policies of the Federal Reserve and the current inflation rates affecting consumer behavior.

Overview of Current Mortgage Rates

In order to provide a clear understanding of the current mortgage rates available for various loan types, the following tables illustrate the recent changes for both conventional and government-backed loan programs.

Conforming Loan Rates

Program	Rate	1 Week Change	APR	1 Week Change
30-Year Fixed Rate	6.83%	Up 0.06%	7.30%	Up 0.07%
20-Year Fixed Rate	6.25%	Down 0.09%	6.53%	Down 0.17%
15-Year Fixed Rate	5.86%	Up 0.05%	6.17%	Up 0.06%
10-Year Fixed Rate	5.78%	Up 0.17%	5.99%	Up 0.22%
5-Year ARM	7.93%	Up 0.33%	8.18%	Up 0.19%

Government Loan Rates

Program	Rate	1 Week Change	APR	1 Week Change
30-Year Fixed Rate FHA	7.03%	Up 0.25%	8.06%	Up 0.25%
30-Year Fixed Rate VA	6.43%	Up 0.14%	6.65%	Up 0.15%
15-Year Fixed Rate FHA	5.25%	Down 0.13%	6.21%	Down 0.13%

The 30-year fixed mortgage rates have increased by 6 basis points compared to the previous week, reflecting a trend observed over the last few months. Understanding these shifts is essential for homeowners looking to buy or refinance their homes, especially when making long-term financial decisions.

30-Year Fixed Rate Mortgage

The 30-year fixed-rate mortgage is often the go-to choice for many buyers, particularly first-time homeowners. Here are some key characteristics of this mortgage type:

• Stability and Predictability: The defining feature of a 30-year fixed mortgage is that the interest rate remains constant throughout the lifespan of the loan. This stability allows for predictable monthly payments, facilitating better budget planning for homeowners.
• Lower Monthly Payments: With repayment stretched over 30 years, monthly payments on this type of mortgage are generally lower than those of shorter-term loans. This affordability can help buyers manage their financial responsibilities, especially when starting out. For instance, with the current average rate of 6.83%, a homeowner borrowing $300,000 would have a monthly payment of approximately $1,964, excluding property taxes and insurance.
• Total Interest Paid: While the lower monthly payment sounds appealing, it’s important to consider the long-term implications. Borrowers end up paying significantly more in interest over the life of the loan. For example, if the same homeowner kept a 30-year fixed mortgage at 6.83%, they would pay around $219,059 in interest over the entire term, significantly increasing the total cost of the home.
• Affordability in Housing: The longer repayment term allows borrowers to afford more home than they might qualify for under a shorter-term mortgage. This feature is particularly beneficial in high-cost areas where prices tend to be elevated.

15-Year Fixed Rate Mortgage

On the other hand, the 15-year fixed-rate mortgage is often chosen by those looking to pay off their home more quickly and with less total interest. Here’s what you need to know:

• Higher Monthly Payments: While the 15-year mortgage offers a lower interest rate—currently at about 5.86%—the shorter term means that monthly payments are higher. For example, a $300,000 loan would result in monthly payments of approximately $2,363. However, many buyers appreciate this as it accelerates their path toward ownership.
• Significant Interest Savings: Borrowers who opt for a 15-year mortgage save considerable money on interest compared to a 30-year mortgage. In our example, the homeowner with a 15-year fixed mortgage at the average rate would pay about $89,205 in interest over the life of the loan. This is a substantial difference, reflecting a savings of nearly $130,000 compared to the 30-year fixed rate option.
• Equity Building: With a 15-year mortgage, homeowners build equity more quickly, which can be an attractive feature for those looking to leverage their home’s value for future investments or refinancing.
• Ideal for Financially Stable Buyers: This option is especially appealing to those who are more financially stable, such as those who might be in their mid-career or nearing retirement. The higher monthly payments are often more manageable for someone with a steady income and less likely to be affected by financial changes.

Refinancing Rates Today

At this time, refinancing options are also essential to examine, as they play a critical role in determining whether homeowners should consider refinancing existing mortgages or not. The table below provides the current rates for refinancing.

Program	Rate	1 Week Change	APR	1 Week Change
30-Year Fixed Rate	7.04%	Down 0.03%	7.30%	Up 0.07%
15-Year Fixed Rate	5.98%	Up 0.04%	6.17%	Up 0.06%
5-Year ARM	8.04%	Up 0.04%	8.18%	Up 0.19%

The current refinance rates have decreased slightly for the 30-year fixed mortgage due to market adjustments, while the 15-year fixed rate has experienced a slight increase. Understanding these rates will help homeowners decide whether they want to change their current mortgage situation.

Federal Reserve's Influence on Mortgage Rates

The Federal Reserve's actions significantly influence mortgage rates through monetary policy. The Fed had previously cut rates three times late last year, which temporarily contributed to lowering mortgage rates, suggesting a shift in the economic outlook. As of now, the federal funds rate is targeted between 4.25% and 4.5%, upholding a relatively stable rate environment through mid-2025.

Looking ahead, the Fed is considering further rate cuts, targeted for the latter half of 2025. If inflation stabilizes and economic indicators continue to show signs of weakness, it could prompt more aggressive cuts. As a result, this trajectory may indirectly cause mortgage rates to either lower or maintain a steady range, depending on broader economic conditions.

Current Economic Landscape

With inflation affecting overall purchasing power and impacting consumer spending, the current economic landscape reveals a sense of caution among potential home buyers and those looking to refinance loans. The gross domestic product (GDP) growth is forecasted to be around 1.4% for 2025, suggesting a sluggish pace that may trigger lower rates if conditions worsen.

Moreover, persistent unemployment rates could contribute to a shift in the mortgage market, where demand could either increase or decrease based on consumers' spending capability and sentiments. This dynamic is crucial for homeowners deciding whether to refinance, as a drop in rates could lead to substantial savings on monthly payments.

Summary: As of July 11, 2025, the mortgage rates reflect a blend of upward trends across standard borrowing costs while refinancing options have slightly varied. The Fed's choices regarding interest rates will continue to play a pivotal role in shaping the market's direction.