Mortgage rates remain steady as of July 30, 2025, with the average 30-year fixed loan at 6.625%, according to Zillow Home Loans. While the national housing market is cooling in some regions, areas like Nashua and Manchester, New Hampshire, continue to attract competitive bidding and rising prices.
Today’s mortgage rates snapshot
| Loan Type | Interest Rate | APR | Points (Cost) |
|---|---|---|---|
| 30-Year Fixed | 6.625% | 6.786% | 1.640 ($4,510.00) |
| 30-Year FHA | 6.125% | 6.840% | 1.933 ($5,315.75) |
| 30-Year VA | 6.500% | 6.784% | 1.657 ($4,556.75) |
| 20-Year Fixed | 6.500% | 6.750% | 1.946 ($5,351.50) |
| 15-Year Fixed | 5.750% | 6.020% | 1.719 ($4,727.25) |
For borrowers considering adjustable-rate mortgages, Zillow reports a 7-year ARM currently averages 7.375%.
How mortgage rates impact today’s housing market
With interest rates hovering near recent highs, monthly mortgage payments remain elevated, especially in competitive housing markets. This has pushed many buyers to reassess affordability and financing options.
Despite this, certain cities remain resilient to price cooling. In Nashua and Manchester, NH, home prices are rising faster than national averages.
Market highlights:
- Nashua median listing price: $525,000 (↑ 8.3% YoY)
- Manchester median price: $428,400 (↑ 7.1% YoY)
- Homes sold above asking: 1.52% (Nashua), 2.27% (Manchester)
Why New Hampshire is still hot
According to a joint analysis from The Wall Street Journal and Realtor.com, Manchester-Nashua ranks as one of America’s top housing markets. Here’s why:
- Proximity to Boston with more affordable prices
- Strong job market and school systems
- High quality of life with year-round outdoor amenities
These fundamentals are keeping buyer demand high, even as other areas like Florida and Texas tilt toward buyer-friendly conditions.
Tips to qualify for lower mortgage rates
Even in a high-rate environment, borrowers can reduce their interest rate through the following strategies:
- Improve your credit score: A stronger score signals lower risk to lenders.
- Make a larger down payment: Reduces the loan-to-value ratio and unlocks better rates.
- Lower your debt-to-income ratio: Lenders favor borrowers with manageable existing obligations.
- Buy mortgage points: Paying upfront can reduce your long-term rate, if you plan to stay in the home.
Zillow’s BuyAbility℠ tool allows borrowers to estimate their rate in minutes, taking into account credit score, income, and location.
Housing market outlook
While the national housing market is showing signs of moderation, select markets like those in New Hampshire continue to thrive. However, recent headlines involving foreign real estate acquisitions have stirred local concerns.
Example: Nashua controversy
A $67 million land purchase by Chinese firm Nongfu Spring raised alarms among lawmakers, particularly due to its proximity to water infrastructure and military facilities. This has sparked legislative changes aimed at barring land sales to hostile foreign entities in New Hampshire.
“We must ensure foreign influence doesn’t compromise our community’s safety,” said state Senator Kevin Avard.
Despite political controversy, local housing demand remains undeterred.
What buyers should do next
- Monitor rates daily: Rates can change quickly, even multiple times per day.
- Lock in your rate if you’re nearing a purchase — especially with the Fed’s next interest rate decision looming.
- Get pre-approved to strengthen your offer in hot markets like Nashua or Manchester.
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