The average rate on 30-year fixed home loans increased to 6.75% for the week ending July 17, up from 6.72% last week.

Ongoing uncertainty could cause rates to stay high, or increase further. For instance, if tariffs cause inflation to reignite, which most experts and Fed officials expect, it could result in higher bond yields and fewer interest rate cuts by the central bank. Both would be bad for mortgage rates.

Bank apply interest rates on personal loans to earn income on the funds they disburse to borrowers. The rate is referred to as an Annual Percentage Rate (APR)