local
Average 30-year US mortgage rate falls to 6.43%, its lowest level in seven weeks
By Alex Veiga, Associated Press at KSAT 12 (ABC affiliate) — San Antonio
· July 2, 2026
· 3 min read
The average long-term U.S. mortgage rate fell this week to its lowest level since mid-May, easing borrowing costs for prospective homebuyers. The benchmark 30-year fixed rate mortgage rate fell to 6.43% from 6.49% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate...
Key takeaway 49% last week, mortgage buyer Freddie Mac said Thursday.
Why this matters in Terrell Hills News
For prospective homebuyers in Terrell Hills , the decline in average 30-year US mortgage rates to 6.43% may be a welcome development, potentially easing borrowing costs and making homes more affordable. However, the ongoing uncertainty surrounding the trajectory of mortgage rates, fueled by the war between the US and Iran, may continue to keep some would-be buyers on the sidelines. In the context of the local housing market, this uncertainty is particularly relevant, given the nationwide housing slump that has been ongoing since 2022. As sales of previously occupied homes in the US have declined, Terrell Hills residents may be watching closely to see how the local market responds to these fluctuations in mortgage rates. With the average rate now at its lowest level since mid-May, some buyers may be tempted to enter the market, but others may remain cautious, waiting to see if rates will continue to trend downward.
About this story
Original reporting by KSAT 12 (ABC affiliate) — San Antonio . Terrell Hills News surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSAT 12 (ABC affiliate) — San Antonio . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 2, 2026 ·
Source: KSAT 12 (ABC affiliate) — San Antonio ·
Reading time: 3 min
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Frequently asked about this story
What is this story about? The average long-term U.S. mortgage rate fell this week to its lowest level since mid-May, easing borrowing costs for prospective homebuyers. The benchmark 30-year fixed rate mortgage rate fell to 6.43% from 6.49% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate...
When was this published? This article was first published on July 2, 2026 by KSAT 12 (ABC affiliate) — San Antonio and curated for Terrell Hills News readers.
Who reported this story? This story was reported by Alex Veiga, Associated Press at KSAT 12 (ABC affiliate) — San Antonio. To learn more about how Terrell Hills News selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from Terrell Hills News, or browse our daily briefing and topic hubs .
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