Mortgage rates continued their upward momentum this week, as the average rate on 30-year fixed home loans hit 6.66% for the week ending July 30, up 8 basis points from 6.58% the previous week, according to Freddie Mac.
This marks the highest average rate in one year.
Despite this notable surge, current borrowing costs remain slightly lower than the same period in 2025, when rates averaged 6.72%.
So what does this mean for homebuyers? Using the Realtor.com® mortgage calculator, we can look at how the math works out for the median-priced home in the U.S.
All examples assume a 30-year fixed mortgage and include principal and interest only, excluding property taxes, homeowners insurance, and mortgage insurance.
Monthly mortgage payment today with a 20% down payment
For a homebuyer eyeing the median house price of $430,000, a 20% down payment results in a loan amount of $344,000.
At today's 6.66% rate, the monthly principal and interest payment is approximately $2,211. This reflects a $19 monthly increase from the previous week’s payment of $2,192.
Compared to the 6.72% average from July 2025, which would have required a $2,224 monthly payment for a home at this price, today’s buyers are still saving $13 every single month.
Read more: https://www.realtor.com/advice/finance/mortgage-payment-calculator-afford-july-30/