The 30-year average climbed to 6.55 percent for the week ending July 16, up from 6.49 percent, as the 10-year Treasury pushed toward a two-month high. The dip that bottomed at 6.43 percent on July 2 did not hold. Full breakdown in the Rate Snapshot below.
The dip did not hold. Rates rose a second straight week.
The 30-year average rose to 6.55 percent for the week ending July 16, up from 6.49 percent, as the 10-year Treasury climbed toward a two-month high on expectations the Fed could raise rates later this year. Both fixed rates are still below where they were a year ago.
Source: Freddie Mac Primary Mortgage Market Survey, week ending July 16, 2026. A year ago the 30-year averaged 6.75%.
The latest numbers
Sales dipped in June, yet the median price set another record and inventory kept climbing. A softer, more balanced summer market for buyers.
Source: National Association of Realtors Existing-Home Sales report, June 2026 (released July 9, 2026).
Vet Corner
Apollo 11, and the men who flew it
This week marks the Apollo 11 anniversary. The mission launched on July 16, 1969, and the crew landed on the moon on July 20.
All three astronauts wore the uniform first. Neil Armstrong flew in the Navy. Buzz Aldrin and Michael Collins served in the Air Force. Service was the on-ramp to everything that came after.
The VA loan runs on that same idea. It is a benefit you earned through service: zero down, no monthly mortgage insurance. If you served and have not used it yet, it is worth a quick look.
Buyer Tip
How to read a listing that has been sitting
A home with a high days-on-market number can be an opening. Sellers who have waited are often ready to talk price, cover closing costs, or make repairs.
But a home usually sits for a reason. It could be price, condition, location, or a problem that quietly trips up financing. The listing will not tell you which.
So before you fall for the deal, talk to your agent and your loan officer first. Some issues, like condition or property type, can stop a loan cold. A five-minute check up front beats a dead deal at the closing table.
Four things worth knowing
- 1Rates rose for a second straight weekThe 30-year averaged 6.55 percent for the week ending July 16, up from 6.49 percent, as the 10-year Treasury pushed toward a two-month high on expectations the Fed could raise rates later this year. Source: Freddie Mac and U.S. Treasury data.
- 2The median price set another recordThe national median existing-home price reached $440,600 in June, the 36th straight month of annual gains, even as sales slipped 2.4 percent from May. Source: National Association of Realtors.
- 3Inventory kept climbing, but slowerThere were 1.56 million homes for sale in June, up 1.3 percent from a year ago. Supply gains are starting to lose momentum, which could add pressure to prices if the trend holds. Source: National Association of Realtors.
- 4Forecasters still see mid-6 percent ratesFannie Mae and the Mortgage Bankers Association both project the 30-year to hold in the mid-6 percent range through 2026 and 2027. Fannie Mae expects a 6.3 percent average. Source: Fannie Mae and MBA forecasts.
Your two-hour summer cookout menu.
The year is half over and so is grilling season. Here is a full cookout you can pull off in about two hours, start to plate. Four parts, nothing fussy, all crowd-pleasers.
The main: dry-rubbed chicken thighs. Pat them dry, then coat with salt, pepper, smoked paprika, garlic powder, and a little brown sugar. Grill skin side down over medium heat for about 6 minutes, flip, and cook 8 to 10 more until the juices run clear. Thighs forgive a busy grill better than breasts do.
Two easy sides. Wrap corn in foil with butter and a pinch of salt, and let it steam on the grill for about 15 minutes. For the slaw, toss shredded cabbage and carrot with mayo, a splash of cider vinegar, a spoon of mustard, and salt. Make the slaw first so it chills while everything else cooks.
Dessert on the grill. Halve a few peaches, brush the cut side with a little oil, and grill face down for 3 to 4 minutes until you get marks. Top with vanilla ice cream. That is it.
A backyard to grill in is one of the quiet reasons people buy. Worth remembering when the market feels like just numbers.
Fire it up this weekend. And if a backyard of your own is on the list, that is a conversation I am always up for.
The 2-1 temporary buydown
With rates back up, this is the tool worth knowing. It lowers your rate for the first two years, then settles at the full rate.
Here is the shape of it. Year one, you pay as if your rate were 2 percent lower. Year two, 1 percent lower. Year three and every year after, the full note rate. On a 6.55 percent loan, that is roughly 4.55 percent the first year and 5.55 percent the second, before it lands at 6.55 percent. Those numbers are an example, not a quote.
The catch, said plainly: it is temporary, and you still have to qualify at the full rate. It works best when a motivated seller or builder agrees to pay for it as a concession, which is more common right now with homes sitting longer. Ask me if it fits your deal.
Your market, your numbers
National averages are a starting line, not your answer. Rates, prices, and loan programs shift by zip code. Tell me where you are looking and I will pull the real numbers for you.
Find my marketNeed a great agent in your corner?
Buying or selling works better with the right people around you. I work with vetted real estate pros across the country. Ask me for an introduction in your market and I will connect you with someone I trust.
Ask for an introduction
Two weeks ago the story was a seven-week low. This week rates are back up and the low is gone. That is exactly why I do not tell anyone to time the bottom. Nobody rings a bell at the low, and it is usually gone before you can act on it.
Here is the part that actually matters for you. Prices set another record in June, inventory is higher than a year ago, and homes are sitting a little longer. That mix means room to negotiate: price cuts, seller-paid closing costs, even a buydown like the one above. The leverage is on the buyer side right now more than the rate is.
If the payment works for your budget today, you buy the house and keep the option to refinance if rates ease later. If it does not work today, we build a plan so it does. Either way, you make the call with real numbers, not a guess about the Fed.
Want to run your specific market and loan amount? That is the whole reason I send this. Reach out anytime.
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