Mortgage Market Update, July 2026
Mortgage rates remain elevated relative to pre-war levels, with 30-year fixed rates in the 5.875% to 6.75% range.
Where rates could go
With the end of the war in sight (fingers crossed), mortgage rates may have the opportunity to drop back into the mid to high 5% range. The lingering inflation from pandemic-era spending still weighs heavily on economists and policymakers alike.
Let go of 3% and 4%
If you’re holding out for the return of 3% and 4% rates, you need to let that go. At this point, I doubt even a full-blown recession could bring mortgage rates much below 5%, and we wouldn’t wish for that.
What it means for you
If you’re buying, plan around today’s rates and refinance later if they fall. If you’re thinking about a refinance or a home equity line, call me and we’ll run the numbers…
Originally published in The Trusted Advisor, July 2026.
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