What a quarter-point drop actually does to your monthly payment

The bond that sets mortgage rates moved down today. The government now pays 4.43% to borrow for ten years, about four basis points lower than yesterday. That's a small move in bond-world, but it points to rates edging down. Today's average 30-year fixed rate is 6.375%. A week ago, the national average was 6.47%. That difference costs you about $20 a month per $100,000 borrowed. On a $500,000 loan, you're looking at roughly $100 less every month.

This kind of drop doesn't happen every day. The Fed meets again on July 29, and until then, rates will bounce around as the market tries to guess what they'll do. If you've been sitting on the fence, waiting for the perfect moment, this is what a real break looks like. Not a headline, just a quieter payment and more buying power. If you want to see what today's rate does to your specific budget, I'm here. I answer my own phone.