Latest News Stream - Mortgage Rate

The average 30-year fixed mortgage rate fell by 9 basis points to 7.41% in the week ended October 16, 2026, according to the Mortgage Bankers Association. This marked the first decline in borrowing costs in 11 weeks, following eight consecutive weeks of increases, as Treasury yields fell amid a flight to safety and growing expectations that the Federal Reserve would leave interest rates unchanged this month. Meanwhile, total mortgage applications dropped 5.3%, extending their decline to a seventh consecutive week. Refinancing applications fell by 2%, while applications for home purchases tumbled 7.3%.

The average 30-year fixed mortgage rate edged up 1 basis points to 7.5% in the week ended October 9, 2026, according to the Mortgage Bankers Association. It marked an eighth straight weekly increase, bringing the cumulative rise to 141 basis points since US-Israeli strikes against Iran began in late February. Borrowing costs continue to track elevated US Treasury yields amid expectations that the Federal Reserve will need to keep interest rates higher for longer to bring inflation under control. This upward movement has weighed heavily on the housing sector. Total mortgage applications fell 2.7%, extending their decline to a sixth consecutive week. Refinancing applications dropped 0.4%, while purchase applications fell 4%.

The average 30-year fixed mortgage rate jumped another 19 basis points to 7.49% in the week ended October 2, following an 18-basis-point increase the previous week and reaching its highest level since late November 2023, according to the Mortgage Bankers Association. It marked a seventh straight weekly increase, bringing the cumulative rise to 140 basis points since US-Israeli strikes against Iran began in late February. The latest increase followed another rise in Treasury yields, with both 10-year and 30-year rates reaching their highest levels since 2002 amid persistent energy-driven inflation and expectations for at least one more Fed hike this year, followed by further tightening in 2027. Total mortgage applications fell 4.2%, extending their decline to a fifth consecutive week. Refinancing applications dropped 7.5%, while purchase applications fell 2.1%.

The average 30-year fixed mortgage rate rose 18 bps to 7.30% in the week ended September 25, its highest level since late November 2023, according to the Mortgage Bankers Association. The increase followed another rise in Treasury yields, with the 10-year note near its highest level since 2007 amid persistent energy-driven inflation, a resilient US economy and hawkish Fed signals that strengthened expectations for further rate hikes. Markets are pricing in at least one more Fed hike by year-end, while mortgage rates have risen more than 120 bps since US-Israeli strikes against Iran began in late February. Meanwhile, total mortgage applications fell 6%, marking a fourth straight weekly decline. Refinancing applications dropped 8.7%, while purchase applications fell 4.3%.

The average contract rate for a 30-year fixed mortgage in the US rose by 15 basis points to 7.12% in the week ended September 18, reaching its highest level since early May 2024, according to the Mortgage Bankers Association. The increase followed a rise in Treasury yields, with the 10-year note remaining close to its highest level since 2007, after the Federal Reserve raised its policy rate by 25 basis points, marking its first rate increase in three years. Fed Chair Kevin Warsh also signaled that further rate increases could follow in the coming months, while other policymakers have since delivered hawkish remarks, reinforcing expectations that additional tightening remains possible. Mortgage rates have risen by more than 100 basis points since the US and Israel began strikes against Iran in late February. Meanwhile, total mortgage applications fell 1.5%, marking a third consecutive weekly decline. Refinancing applications dropped 2.6%, while purchase applications decreased 0.8%.

The average contract rate for a 30-year fixed mortgage in the US rose to 6.97% in the week ended September 11, its highest level since May 2025, according to the Mortgage Bankers Association. The increase followed a rise in Treasury yields, with the 10-year note briefly touching 5% and approaching its highest level since 2007, as renewed Middle East tensions and stronger-than-expected US inflation data heightened inflation concerns and reinforced expectations that the Federal Reserve will deliver its first rate hike since 2023 on September 16. Mortgage rates have risen 88 basis points since the US and Israel began strikes against Iran in late February. Meanwhile, total mortgage applications fell 4.1%, extending the previous week’s 2.7% decline and marking the steepest weekly drop since July. Refinancing applications decreased 8.8%, while purchase applications fell 0.8%.

The average contract rate for a 30-year fixed mortgage in the US rose to 6.85% in the week ended September 4, its highest level since June 2025, according to the Mortgage Bankers Association. The increase followed a rise in Treasury yields as renewed Middle East tensions fueled inflation concerns, while stronger US labor-market data reinforced expectations for a September rate hike. Mortgage rates have risen nearly 80 basis points since the US and Israel began strikes against Iran in late February. Meanwhile, total mortgage applications fell 2.7%, reversing a 0.8% increase the previous week. Refinancing applications dropped 6.2%, while purchase applications edged down 0.2%.

The average contract rate for a 30-year fixed mortgage in the US edged up to 6.79% in the week ended August 28, from 6.78% the previous week, remaining close to the one-year highs reached in late July, according to the Mortgage Bankers Association. The increase followed a rise in Treasury yields as renewed Middle East tensions stoked inflation concerns, while hawkish comments from Federal Reserve Chair Kevin Warsh reinforced expectations for a September rate hike. Mortgage rates have climbed nearly 70bp since the US and Israel began strikes against Iran in late February. Total mortgage applications rose 0.8%, rebounding after two consecutive weekly declines, with purchase applications up 2.2%. Refinancing applications, however, fell 1.1%.

The average contract rate for a 30-year fixed mortgage in the US edged up to 6.78% in the week ending August 21, 2026, from 6.77% the previous week, remaining near the one-year highs reached in late July, according to the Mortgage Bankers Association. The increase followed a rise in Treasury yields as persistent inflation concerns continued to weigh on bond markets, despite the US Treasury Department’s unexpected announcement of a larger bond buyback last week, which had been expected to support demand for government debt. Mortgage rates have climbed nearly 70 bps since the US and Israel launched strikes against Iran in late February, as higher oil prices fueled inflation fears and reinforced expectations that the Federal Reserve will keep rates higher for longer. Total mortgage applications fell 1.0% for a second straight week. Refinancing applications dropped 2.0%, while purchase applications declined 0.3%.

US mortgage rates were little changed last week, with the average contract rate for a 30-year fixed-rate mortgage with conforming balances holding at 6.77%. The stability in borrowing costs provided little incentive for either prospective buyers or existing homeowners to act, with total mortgage application volume slipping just 0.4% from the previous week. Although mortgage rates were unchanged during the week, they remained near the upper end of their recent range and moved slightly higher at the start of this week, suggesting housing activity may remain constrained in the near term. Refinance applications increased 2%, although demand remained subdued as elevated rates continued to discourage borrowers, particularly those with larger loan balances. Meanwhile, applications to purchase homes declined 2% as affordability pressures weighed on demand. Higher monthly payments and broader economic uncertainty are prompting some buyers to delay purchases.

The average 30-year fixed mortgage rate for loans of up to $806,500 in the US increased by 5bps to 6.81% in the week ended July 31st 2026, reaching the highest level in a year, after soaring by 7bps in the previous week, according to the Mortgage Bankers Association. The rise tracked higher Treasury yields, while renewed hostilities in the Middle East pushed oil prices higher, raising inflation concerns. Meanwhile, mortgage applications decreased 2.9%, extending a 6.4% drop in the previous week. Applications to purchase a home slumped 3.6% and those to refinance a home loan dropped 1.9%, after decreases of 3.6% and 9.9% respectively in the previous week.

The average contract rate for a 30-year fixed mortgage in the US climbed 7 basis points to 6.76% in the week ending July 24, 2026, marking its highest level since August 2025, according to the Mortgage Bankers Association. The increase tracked a rise in Treasury yields as persistent inflation concerns continued to pressure bond markets, reducing expectations for lower borrowing costs in the near term. Mortgage rates have climbed nearly 70 basis points since the US and Israel launched strikes against Iran in late February, as higher oil prices fueled inflation fears. While energy prices eased in June, renewed hostilities have revived expectations that the Federal Reserve will keep interest rates higher for longer. Higher borrowing costs continued to weigh on housing demand. Total mortgage applications fell 6.4% from the previous week, with purchase applications declining 3.6% and refinancing activity dropping 9.9%.

The average contract rate on a 30-year fixed mortgage in the US rose 4 basis points to 6.69% in the week ending July 17, 2026, reaching its highest level since August 22, 2025, according to the Mortgage Bankers Association. The increase followed a rise in Treasury yields, with inflation concerns continuing to weigh on bond markets and limiting the prospect of near-term relief for homebuyers. Mortgage rates have climbed 0.60 percentage points since the US and Israel launched attacks against Iran in late February, which pushed global oil prices higher and added to broader inflation pressures. Although energy prices eased in June on hopes of peace talks, renewed hostilities have reignited concerns that inflation could remain elevated and force the Federal Reserve to keep rates higher for longer. Despite higher borrowing costs, total mortgage applications rose 1.9% after two weeks of declines, with purchase applications up 5.5% while refinancing fell 2.4%.

The average US 30-year fixed mortgage rate for loans of up to $806,500 rose to 6.65% in the week ending July 10, 2026, from 6.58% a week earlier, matching the nine-month high reached in May, according to the Mortgage Bankers Association. The increase reflects a recent rise in US Treasury yields, fueled by persistent inflation concerns and growing expectations that the Federal Reserve could raise interest rates later this year, even as the labor market continues to show signs of gradual cooling. Higher borrowing costs weighed on mortgage demand, with total applications falling 2.7%, a second consecutive weekly decline. Purchase applications dropped 7.3%, signaling softer homebuying activity, while refinancing applications increased 3.5% as some homeowners took advantage of recent market movements.

The average US 30-year fixed mortgage rate for loans up to $806,500 increased to 6.58% in the week ending July 3, 2026, up from 6.57% the previous week and remaining near the nine-month highs seen in May, according to the Mortgage Bankers Association. This rise follows a recent uptick in US Treasury yields, driven by persistent inflation concerns and growing bets that the Federal Reserve will hike interest rates this year, despite signs of a gradually cooling labor market and Fed Chair Kevin Warsh’s remarks that there is no urgency to raise rates. Total mortgage applications declined by 2.2%, after remaining flat the prior week, with refinance activity dropping 4.1% and purchase applications falling 0.6%.