Daily Archives: July 24, 2026
Mortgage Rates — Week of July 24, 2026
Mortgage Rates — Week of July 24, 2026
Where rates stand
This week’s national averages, per Freddie Mac’s Primary Mortgage Market Survey:
| Product | This Week | Last Week | Change |
|---|---|---|---|
| 30-year fixed | 6.58% | 6.52% | +0.06% |
| 15-year fixed | 5.96% | 5.90% | +0.06% |
| 5/1 ARM | 5.85% | 5.80% | +0.05% |
Rates are climbing—the upward pressure is real, driven by elevated oil prices and a more cautious Federal Reserve stance.
What it means
For Georgia buyers: A 6.58% rate on a $300,000 purchase translates to approximately $1,850 per month in principal and interest. Compare that to where rates sat a year ago, and you’re looking at significant monthly differences. If you’ve been on the fence, the window is narrowing.
For sellers and appraisers: Rising rates compress buyer purchasing power. That directly impacts comparable sales and appraisal values in your market. Properties that sold easily at lower rates now face stiffer headwinds. Pricing strategy matters more than ever.
Geopolitical and economic backdrop: Oil prices have spiked due to escalating tensions in the Middle East, and bond yields are trending upward in response. The Fed remains hawkish, signaling more caution ahead. Rate forecasts lean toward continued upward pressure in the near term—though experts remain split on whether the increases will be steep or modest.
The bottom line: If you’re considering a refinance or a purchase, don’t wait for rates to drop. Lock in while you can, and have a solid strategy in place.
— Shelly Berryhill, Georgia Appraisal Services
