Your rate just dropped $60 a month

Producer prices came in flat when forecasters expected them to rise. The yearly increase slowed from 5.5% to 4.7%. Treasury yields dropped, and mortgage rates followed.

Today's average 30-year fixed rate is 6.625% (6.674% APR). On a $600,000 loan, that's $3,860 a month in principal and interest. Two weeks ago, the same loan cost you $3,920. That's $60 less every month, $720 a year.

If payment is still tight, there's another path: a 40-year interest-only fixed loan at 6.875% (7.014% APR) drops that same $600k to $3,438 a month up front. Not for everyone, but it gets you into the house now and you refinance when rates drop further.

I answer my own phone. Let's figure out what fits your budget.

Rates shown are today's average California rates as of 8/11/2026, 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.