What are rates doing right now?
🏠 30-year home loan
6.72%
This is what most people get when they buy a house today. The rate went up this week because of news from the Middle East — bond markets got nervous, and mortgage rates followed.
On a $300,000 loan, this means roughly $1,943/month just in principal and interest.
▲ Up 0.14% this week
Higher than average — watch the July 14 CPI report
🚗 Car loan (48 months)
7.20%
This is the average rate for a new car loan. Dealer financing is often higher. If your dealer offers you 8% or more, it's worth calling your bank first.
On a $30,000 car loan, this means roughly $722/month for 4 years.
▼ Down slightly this week
About average — always compare with your bank
💳 Personal loan
12.8%
Personal loans are more expensive because there's no house or car as collateral. If you have good credit (700+), you can often find rates below 10%.
On a $10,000 personal loan for 3 years, this means roughly $338/month.
— Stable this week
Shop multiple lenders — rates vary widely
How much house can I afford?
Move the sliders. We'll show you what you can comfortably afford — based on the rule that your housing payment shouldn't be more than 28% of your monthly income.
You can comfortably afford
$280,000
home purchase price, with your income and down payment
Monthly payment (est.)
$1,494/mo
Loan amount
$260,000
Down payment %
7.7%
Rate used
6.72%
How does my credit score affect my rate?
Your credit score is the single biggest factor in what rate you get. Here's what each range means in real dollars — based on a $300,000 mortgage at today's rates.
740 – 850
Excellent credit
You'd likely get: ~6.50%
Monthly payment: ~$1,896
vs. someone with poor credit: you save $356/month
vs. someone with poor credit: you save $356/month
✓ You're in the best position. Apply now and shop at least 3 lenders to find the lowest rate.
680 – 739
Good credit
You'd likely get: ~7.10%
Monthly payment: ~$2,015
vs. excellent credit: you pay $119 more/month
vs. excellent credit: you pay $119 more/month
→ Paying down 1–2 credit cards could move you into the excellent tier in 60–90 days.
580 – 679
Fair credit
You'd likely get: ~7.80% – 8.5%
Monthly payment: ~$2,252
vs. excellent credit: you pay $356 more/month — that's $128,160 extra over 30 years
vs. excellent credit: you pay $356 more/month — that's $128,160 extra over 30 years
→ Consider waiting 6–12 months to improve your score before applying. The savings are significant.
Should I wait or act now?
17
days until the next Fed meeting
(July 29–30, 2026)
(July 29–30, 2026)
The Fed decides the base interest rate. When they cut rates, mortgages usually get cheaper within a few weeks.
What will the Fed do on July 29–30?
Markets currently expect the Fed to hold rates steady. A cut is possible — but unlikely — unless the June CPI report (July 14) shows inflation dropped significantly.
Bottom line: if you've found the right home, don't try to time the market. The difference between now and a possible rate cut is small. Missing the right home isn't.
Calculate your specific situation