US home loan rates dropped modestly on July 8 2026, according to data. Rates continued to slip, offering some relief homebuyers. The drop brought the average 30-year fixed rate to nearly 6 percent, based on tracked figures. A new report put the mean adjustable-rate mortgage at close to 5.4 percent, slight decrease from the prior day.
Meanwhile in another market, key banks increased variable mortgage rates due to higher central bank cash rate pressure. The lenders noted the OCR hike forced the change. Their moves stand in contrast the downward trend seen in the United States.