A surprise move just pulled rates back. Here's your window.

The government announced Wednesday it's doubling the amount of long-term debt it buys back. That pulled the rate the government pays to borrow (the 30-year Treasury) down almost 10 basis points in one day, to 5.20%. When that rate drops, mortgage rates usually follow. Today's average 30-year fixed rate is 6.625% (6.674% APR). If you've been waiting for a dip, this is the kind of day that creates one.

For a $500,000 loan at 6.625% (6.674% APR), your monthly payment is about $3,200. If rates slip another quarter point in the next few weeks, you save roughly $75 a month, or $27,000 over the life of the loan. If your budget is tight, the 40-year interest-only option at 6.875% (7.014% APR) drops that payment to around $2,865 a month for the first 40 years, all interest-only and fixed. It's one tool when affordability matters more than equity buildup.

I answer my phone. If you want to lock today's rate or see what you qualify for, call me and we'll figure it out in one conversation.

Rates shown are today's average California rates as of 8/18/2026, 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.