The average 30-year fixed mortgage interest rate is 6.75% today, up 0.04% from seven days ago. The average rate for a 15-year fixed mortgage is 6.00%, which is an increase of 0.06% compared to a week ago. To secure a lower mortgage interest rate, consider increasing your down payment, improving your credit score or purchasing mortgage points.

The average rate on 30-year fixed home loans increased to 6.72% for the week ending July 10, up from 6.67% last week.

Headwinds for mortgage rates arrived Tuesday in the form of rising inflation, which likely ends the faint hopes of a Fed rate cut in July.