Mortgage rates today are steady, but loan demand fell 10% after recent rate increases. See what’s driving today’s trends.

Renewed concerns over tariffs and the broader economy drove treasury yields higher last week, and mortgage rates followed. As a result, total mortgage application volume dropped 10% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

Homeowners considering tapping their property’s equity can choose between two products: home equity loans and home equity lines of credit (HELOCs). Both have their pros and cons, but lately, the loans have gotten more popular than their credit line cousins.

Current 15-Year Refinance Rates What Is a 15-Year Mortgage Refinance? A 15-year mortgage refinance is a new home loan that replaces your existing mortgage and is paid off in a 15-year span.

The average rate on 30-year fixed home loans increased to 6.72% for the week ending July 10, up from 6.67% last week.

Federal Reserve rate cut expectations pushed mortgage rates down to multi-week lows at 6.67%. Financial experts say even small rate decreases can create meaningful monthly savings for borrowers.

Annual spending on home improvements has been down in recent years, but that’s expected to change in 2025 with a 1.2 percent increase in renovation spending, according to a report by the Joint Center