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.

The average rate on 30-year fixed home loans decreased to 6.67% for the week ending July 3, down from 6.77% last week.

Mortgage interest rates are consistently declining again. Here are three things homebuyers should do in response.