Mortgage rates up slightly in first July survey

Hundred dollar bill folded in shape of house

Mortgage rates rose for the second straight week, according to’s most recent survey of major lenders.

But the average cost of all four major types of home loans we track continues to be a quarter point to a half point cheaper than it was early in the year.

Most home loans are also cheaper than they were last July. The exception is the 30-year, fixed-rate home loan which costs about the same as it did last summer.

Our July 6 survey found the average interest rate for a:

30-year, fixed-rate loan rose to 4.79% from 4.71% the previous week. That’s about what these kinds of loans cost this time last summer, when the first survey in July averaged 4.74%.

15-year, fixed-rate loan rose to 3.90% from 3.86% the previous week. That’s considerably lower than a year ago when it was 4.22%.

30-year, fixed-rate jumbo loan (for loans exceeding $417,000 to $729,750, depending on the city) rose to 5.27% from 5.21% the previous week. A year ago, it was 5.48%.

Five-year, adjustable-rate loan rose to 3.49% from 3.45% the previous week. A year ago, it was 4.06%.

Our database of mortgage rates can help you find the best deals in your area, including many that are less costly than the national averages.

You can use our calculator to determine the monthly payments for the exact amount you want to borrow with this or any home loan.

It will also provide a month-by-month amortization schedule that shows how much you've reduced your debt and how much you still owe if you want to pay off your loan.

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