Mortgage rates are up, but still under 7%. Today’s national average on a 30-year fixed-rate mortgage is 6.74%, according to Bankrate. If you choose a 15-year fixed-rate mortgage, the average rate is 5.

The Mortgage Bankers Association predicts that mortgage rates won't change much over the next three months. The trade association forecasts that the 30-year mortgage will average 6.8% from July through September, about the same as the average from April through June.

Another flurry of tariff announcements could spark volatility in the mortgage market leading up to the Fed's meeting later this month.