Mortgage Rates — Week of July 3, 2026

Where rates stand

This week brought solid momentum. The 30-year fixed-rate mortgage averaged 6.43%, down 6 basis points from last week’s 6.49%. The 15-year fixed dropped to 5.79%, a 5 basis point decline from 5.84%. Both legs of the curve are easing — the first meaningful downward movement we’ve seen in a few weeks.

What it means

We’re now over 200 consecutive trading days below 6.5% — a range Georgia buyers have grown used to over the past 18 months. Rate relief like this week’s small but consistent gains matter in two ways: refinance viability and purchase power.

For refinancers, every basis point drop means recalculating. If you’ve been sitting on a 6.7% or 6.8% loan, this environment is worth a fresh look. The breakeven horizon has tightened.

For buyers, the conversation shifts from “will rates drop further?” to “will my rate drop further?” The reality: nobody times the market perfectly. Waiting for a phantom 6.1% when you can close at 6.4% is a margin-of-error game, and margins don’t pay your mortgage. If your rate works for your purchase timeline and your budget, lock it.

The spreads between 30-year and 15-year have stabilized around 64 basis points. That’s rational — if you have the cash flow for a 15-year payment, the equity acceleration is hard to ignore.

— Shelly Berryhill, Georgia Appraisal Services

Georgia Appraisal Services | 15 Warren Street, Hawkinsville, GA 31036 | (478) 230-3538