This summer’s housing market feels like a riddle — prices are up, but competition is down. Mortgage rates dip, then spike, leaving buyers and sellers wondering: Is now the right time to move? The answer?

News Oklahoma's Cathy Tatom looks into what is keeping mortgage interest rates in the 6% to 7% range instead of falling back to the 3% range of just a few years ago.

A couple of key mortgage rates ticked downward. Lower mortgage rates could bring positive news to the housing market in 2025. Mortgage Rates Dip Down: Mortgage Rates on June 20, 2025

Mortgage rates dip amid swings In markets. President Donald Trump’s tariff policies spurred a spasm of market swings that included 10-year Treasury yields briefly dropping below 4 percent.

As mortgage rates dip and Washington rethinks housing policy, buyers may be entering a narrow window of opportunity in a still-cautious market.

That incredible lack of affordability nudged California prices lower. The median was off 1% since May 2024 – the first 12-month drop in prices since June 2023. Still, that median is just $10,000 off its all-time high. Is it really a surprise that May’s statewide sales were down 4% year-over-year? It was the biggest drop in 17 months.

Refinance rates change daily, but experts say rates could inch down in the coming months. Refi Rates Dip Since Last Week: Mortgage Refinance Rates for July 3, 2025 - CNET Your Guide