<ul data-eligibleForWebStory="false"><li>The average mortgage rate on a 30-year fixed mortgage dropped to 6.58% from 6.7% the previous week, while the rate for a 15-year fixed mortgage decreased to 5.57%.</li><li>Comparing refinancing rates to existing mortgage rates is recommended for homeowners looking to lock in lower rates.</li><li>Factors such as the Federal Reserve's decisions, U.S. Treasury bond yields, and global events can influence mortgage rates, although experts do not expect significant drops in the near future.</li><li>While various economic factors affect mortgage rates, borrowers can focus on areas like credit score and loan programs to potentially secure a lower rate.</li></ul>

Mortgage Rates Today: July 2, 2025 – Rates Slide

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