The average 15-year fixed conforming rate climbed to 5.782%, while Mortgage Bankers Association data showed overall mortgage applications declined in the week ending July 10.
Average U.S. mortgage rates moved higher, with the 30-year fixed conforming loan at 6.625% and the 15-year fixed conforming loan at 5.782%, based on Mortgage Resource Center data reviewed on July 20, 2026. Week over week, the 30-year conventional rate was effectively flat and the 15-year fell 3 basis points, while jumbo and USDA rates rose and FHA and VA were little changed. On a $300,000 30-year mortgage at 6.625%, borrowers would pay roughly $391,538.04 in interest over the life of the loan, compared with about $149,347.70 on a 15-year loan at 5.782%. The Federal Open Market Committee, or FOMC, left the federal funds rate unchanged at 3.50% to 3.75% at its June 16-17 meeting, with its next meeting set for July 28-29. Mortgage Bankers Association data also showed applications fell 2.7% in the week ending July 10, while refinance activity rose to 43.2% of total applications. The report said mortgage rates often move with Fed policy, but experts do not expect a return to the 2.65% average reached in January 2021 without another shock on the scale of the pandemic.