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.

Mortgage rates tend to fluctuate day by day. So if you’re planning to buy a home, it’s a good idea to keep a close watch on interest rates and weigh various mortgage options. One common type of mortgage is a conventional loan with a 15-year fixed interest rate.

Mortgage rates have dropped for five weeks in a row. But will they continue to do so this July? Here's what to consider.