Markets are eyeing next week's inflation data for more clarity on how tariffs are impacting price growth. Here's how that impacts mortgage rates.

Current mortgage rates are down, but higher than they were seven days ago and in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

Mortgage rates are expected to stay in the mid-to-upper 6% range in July 2025. Experts predict stability amid economic uncertainty.