Fed chair Powell's 'wait and see' approach to interest rates has drawn criticism from the Trump administration, which insists that they be slashed to increase homebuyer demand and relieve the housing market. However, the Fed isn't directly responsible for mortgage rates.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.87% from 5.92% last week. A year ago, it was 6.07%, Freddie Mac said.

Alex Manzara at R.J. O'Brien makes the point that even if the Trump administration is successful in getting a more pliant Fed, there's still another issue in its quest to lower mortgage rates. The spr

Analysts believe a modest drop in mortgage rates could prove to be a "magic bullet" for the U.S. housing market.

With the Federal Reserve's July meeting on the horizon, many prospective homebuyers and homeowners are wondering what it could mean for mortgage rates. After years of relatively high borrowing costs, even the slightest dip could open doors for those hoping to buy or refinance. But the path forward is far from clear.

Mortgage rates retreated this week, with the 30-year fixed rate averaging 6.76 percent, compared to 6.81 percent the previous week, according to Bankrate’s latest lender survey.

The likelihood of a rate cut in July is low, but at least one member of the Federal Open Market Committee is advocating for one.

Mortgage rates hold steady July 23, 2025, with 30-year fixed at 6.625%. Trump hints at capital gains tax cut for home sales.

President Trump's visit to the Fed is the latest development in his long-running fight with Fed Chair Powell that has focused on interest rates

Trump is fed up with Powell, but experts say Americans seeking cheaper interest rates and lower prices shouldn’t be rooting for the Fed chair to be forced into an early exit.