30-Year Mortgage Rate Holds Near 6.50% as July 14 Inflation Data May Drive July Shift
Updated
Updated · CBS New York · Jun 24
30-Year Mortgage Rate Holds Near 6.50% as July 14 Inflation Data May Drive July Shift
3 articles · Updated · CBS New York · Jun 24
Summary
Mortgage rates could edge lower in July, but the outlook remains uncertain with the average 30-year rate still around 6.50% after June’s sharp run-up.
May inflation topped 4% and the Fed again left its benchmark rate unchanged, while talk of a possible later-2026 hike has kept borrowing costs elevated even without a fresh Fed move.
July 14 inflation data and the Fed’s July 29 meeting are the next key catalysts, because lenders can trim or raise mortgage offers before any formal policy change.
Geopolitical tensions, oil-driven inflation pressure, labor-market data and Treasury yields could all sway rates, while borrowers’ credit profiles will still determine who benefits most from any decline.