The Housing Market and Home Ownership

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Average 30-year US mortgage rate rises to highest level in a year at 6.66%

The average long-term U.S. mortgage rate rose for the fourth consecutive week to its highest level in a year, another setback for prospective homebuyers hoping for a break from elevated home loan borrowing costs.The benchmark 30-year fixed rate mortgage rate rose to 6.66% from 6.58% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.72%. Read More.

[phkrause]

🏠 Mortgage rate spike

Data: Mortgage Bankers Association. Chart: Courtenay Brown/Axios The average rate on a 30-year fixed-rate mortgage rose to 6.81% last week — the highest in a year, Axios' Neil Irwin writes. Why it matters: A global bond market sell-off is making it more expensive to buy a house. Higher borrowing costs are keeping prospective homeowners on the sidelines. Mortgage applications fell 3% last week.

[phkrause]

Mortgage rates rise for 5th straight week, hitting levels not seen since 2025 for 2nd week in a row

The average long-term U.S. mortgage rate rose for a fifth consecutive week to its highest level in just over a year, marking the latest strain for prospective homebuyers who are facing steep borrowing costs. Read More.

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US existing homes fall 1.7% in July as record prices, high mortgage rates stifle would be-buyers

Sales of previously occupied U.S. homes slowed again in July as record prices and the highest mortgage rates in a year prove to be an insurmountable hurdle for many prospective homebuyers. Read More.