A small uptick this week, and here's the new math

Today's average rate is 6.625% (6.674% APR), up from last week. The reason is simple: the rate the government pays to borrow (called the 10-year Treasury) jumped about 6 basis points, and mortgage rates usually track it. That sounds small, but it moves the needle. On a $500,000 loan, the difference is about $100 a month compared to last week's rate.

If monthly cost is tight, you have options. One is the 40-year interest-only at 6.875% (7.014% APR). You pay only interest for the full 40 years, so the payment is lower up front. It's not for everyone, but it can unlock a buy when the monthly budget is the holdup. I walk through all the trade-offs before you decide.

I answer my own phone. If you want to run real numbers for your situation, call me at (949) 350-8005 or email Brett.Hickman@yourhomefirst.com. We'll figure it out.

Rates shown are today's average California rates as of 7/31/2026, for general information only and not an offer or commitment to lend. Your actual rate and APR depend on your credit, loan amount, down payment, and property, and rates and terms can change at any time. Brett Hickman, NMLS #2010859. Home First Financial, NMLS #2465048. Equal Housing Lender.