Personal Finance

Freddie Mac's July 23 survey puts the average 30-year fixed mortgage rate at 6.58%, up 15 basis points from a seven-week low on July 2 and the highest reading in nearly 12 months. For a borrower financing the June median existing-home price of $440,600 with 20% down, that three-week climb adds roughly $35 to the monthly payment and $420 annually. The next survey releases July 30, one day after the Federal Reserve's rate decision, though mortgage rates track Treasury yields and investor expectations rather than Fed policy directly.

A $2.5 billion FTC settlement with Amazon includes $1.5 billion for consumer payments, and the claims window closes July 27, 2026. Eligible filers are U.S. consumers who unintentionally enrolled in Prime or unsuccessfully attempted to cancel between June 2019 and June 2025, used fewer than 10 Prime benefits in any 12-month period, and did not receive an earlier automatic payment. Approved claims are capped at $51, calculated from membership fees paid during the relevant period, with payments expected by September 2026 via PayPal, Venmo, or mailed check.

A unanimous Ninth Circuit panel rejected the Education Department's appeal in Sweet v. McMahon, leaving in place district court orders requiring full settlement relief for roughly 170,000 borrowers who filed applications between June 23 and November 15, 2022, and whose cases were not decided by court-set deadlines. Relief includes loan discharge, refunds of prior payments, and credit tradeline deletion, with eligible borrowers having received notices as early as March 2026 and one year to see relief processed. The ruling enforces existing settlement terms rather than creating new forgiveness eligibility, and no indication of further government appeal has been identified as of late July 2025.