The average rate on 30-year fixed home loans registered 6.72% for the week ending July 31, down slightly from 6.74% last week.

Investors have started to worry that the U.S. could be headed for a spell of stagflation. The U.K. might already be there.

India's central bank held key interest rates steady on Wednesday as expected, saying the economy remains steady, even though economists expect steep U.S. tariffs on Indian exports and subdued inflation to open room for limited further easing.

India’s central bank held its key interest rate as Donald Trump’s planned increase to tariffs on the country’s exports to the US threatens to send its economy into turmoil. The Reserve Bank of India ’s decision to keep the repo rate at 5.