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- Mortgage rates hold steady at 6.74%</p>
<p>Shi BradleyJuly 24, 2025 at 6:20 PM</p>
<p>Mortgage rates remained basically flat this week, following two straight weeks of increases.</p>
<p>According to data from Freddie Mac, the average rate on a 30-year fixed mortgage was 6.74% for the week ending Wednesday, down just a single basis point from 6.75% the week prior. The average 15-year fixed mortgage rate was 5.87%, down five basis points from 5.92% last week.</p>
<p>Read more: Will mortgage rates ever be 3% again?</p>
<p>"Overall, the backdrop for the housing market is positive as the economy continues to perform well with solid employment and income growth," said Sam Khater, Freddie Mac's chief economist.</p>
<p>Applications to purchase a home were up 3% from a week ago, according to data from the Mortgage Bankers Association, while refinancings fell 3%.</p>
<p>"We expect overall demand to ebb and flow as long as mortgage rates remain volatile due to the ongoing economic uncertainty," said Bob Broeksmit, MBA CEO and president.</p>
<p>As mortgage rates remain elevated, home sales could hit an all-time low this year. According to research by Realtor.com, sales volume for existing homes is expected to fall 1.5% annually, to just 4 million transactions. At the start of 2025, sales volume for homes had been expected to increase slightly from last year's level of 4.06 million — another all-time low.</p>
<p>Learn more: Selling your home at a loss? Everything you before you list.</p>
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