More jobs, more spending and continued uncertainty about tariffs. Here's how that could impact the Fed's interest rate decision this week.

The average rate on 30-year fixed home loans increased to 6.75% for the week ending July 17, up from 6.72% last week.

The Fed’s decision on interest rates affects many types of consumer borrowing costs, from credit cards and mortgages to auto loans.

Mortgage rates are still fluctuating in 2025 as the Fed holds steady — for now. Learn how interest rate changes affect your monthly payments and what buyers should watch for this year.

July 7, 2025 / 4:33 PM EDT / CBS News A recent decline in mortgage interest rates may have buyers questioning the possibility of additional rate drops this July. Getty Images

Missing a mortgage payment can have detrimental consequences such as foreclosure. In addition, this can also affect your credit score.

Rising rates can add hundreds to your monthly bill and derail homeownership dreams By Kendrick Ibasco Jul 05, 2025 1:00 pm Photo credit: Shutterstock.com / PeopleImages.com - Yuri A

During the last three years, mortgage rates have been on the rise. In early 2022, the average 30-year fixed rate was 4.72% and the 15-year fixed rate was 3.91%. Rates reached a recent peak in late ...

Mortgage rates aren’t hampering millennials’ homebuying interest Realtor.com found that 23% of millennials plan to buy a home in the next six months, up from 15% in September 2024

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