# Mortgage Rates Dip Today But Remain Higher Than June Levels Mortgage rates show a slight decline but stay above June levels. - **Source:** [NerdWallet](https://brifing.si/source/47fee75b-2b5e-493d-9ac3-f012b6c37891) - **Published:** 2026-07-23 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/357c144d-9cbe-4ccc-974d-729f8749c3d6 ## Current State of Mortgage Rates Mortgage rates saw a slight decline today but remain elevated compared to June. The average 30-year fixed-rate mortgage dropped to 6.52%, marking a five-basis-point decrease from yesterday. ## Impact of Global Events Conflict in Iran and rising oil prices have weakened the bond market, creating upward pressure on mortgage rates. This situation fuels inflation concerns and impacts financial markets. ## The Fed's Role and Expectations The Federal Reserve is not expected to raise rates in July, but the likelihood of a September hike exceeds 50%. This could further increase mortgage rates in the future. ## Refinancing Tips If your current rate is 7.02% or higher, it might be time to consider refinancing. However, ensure you plan to stay in your home long enough to cover closing costs. ## The Right Time to Buy a Home There’s no universal 'right time' to buy a home. What matters is whether you can comfortably afford mortgage payments at today’s rates. You can always refinance later for lower rates. ## Rate Lock Strategy If you’re satisfied with a quote, consider locking your mortgage rate. This protects you from market fluctuations and can be particularly advantageous with lenders offering float-down options. ## Sources covering this story - https://www.nerdwallet.com/mortgages/news/mortgage-rates-today-thursday-july-23-2026 — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._