Precise Management Group, LLC

Mortgage rates on 30-year fixed home loans dropped to 6.43% for the week ending July 2, the lowest level since May 14 and the biggest weekly decline since late April.

Mortgage rates dipped to 6.47% for the week ending June 18, down 5 basis points from the prior week and well below the 6.81% average recorded during the same period in 2025, according to Freddie Mac. The drop followed President Trump's signing of a 14-point memorandum of understanding with Iran aimed at reopening the Strait of Hormuz and lifting sanctions.