30-Year Mortgage Rates Cross 7% — What California Buyers Should Do Now

The 30-year fixed mortgage rate has climbed above 7% for the first time since early 2025, marking five consecutive weeks of increases. Here's what this means for California homebuyers and how to navigate it.

Mortgage rates have crossed the 7% threshold again — and if you're in the market to buy or refinance in California, this is a moment to pay close attention.

After five straight weeks of increases, the 30-year fixed rate has now climbed to levels we haven't seen since January 2025. That kind of sustained upward movement isn't noise — it's a trend, and it directly affects your purchasing power and monthly payment.

To put it in real numbers: on a $750,000 loan, the difference between 6.5% and 7% is roughly $240 more per month. In California's already competitive market, that adds up fast.

So what should you do? First, don't panic — rates have been here before and the market has adapted. Second, if you've been sitting on the fence, waiting for rates to drop further may cost you more than acting now, especially if home prices in your target area continue to hold firm.

This is also a great time to explore adjustable-rate options, buy-down strategies, or seller concessions that can meaningfully reduce your effective rate.

Want to see how today's rates affect your specific scenario? Reach out to our team — we'll run the numbers and find the smartest path forward for you.