The price you pay to borrow held steady, even as oil climbed

Today's average rate is 6.5% (6.549% APR). It didn't move this week, even though oil just jumped past $85 a barrel after renewed tensions in the Middle East.

Usually that kind of news pushes rates up. This time it didn't, because the cost of goods before they hit store shelves fell 0.3% last month, better than expected. Lenders price loans based on where inflation is headed, not just where oil is today.

On a $600,000 loan at 6.5% (6.549% APR), your principal and interest payment is $3,792 a month. If the rate had climbed even a quarter point, you'd be paying $3,887, or $95 more every month.

For buyers watching their budget closely, a 40-year interest-only loan at 6.875% (7.014% APR) drops that same $600,000 payment to $3,438, buying you room now while you build equity later.

The window is stable right now. I'm Brett Hickman. I answer my own phone, and I can walk you through what you actually qualify for today. Text or call me at the number on this page.

Rates shown are today's average California rates as of 7/14/2026, 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.