US 30-Year Mortgage Rate Edges Up to 6.58%

The average rate on a 30-year fixed mortgage in the US edged up to 6.58% as of July 23, 2026, from 6.55% the previous week, marking the fourth consecutive weekly increase, according to Freddie Mac. "As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate can make a meaningful difference, potentially saving them thousands over the loan's lifetime," said Sam Khater, Freddie Mac's Chief Economist. A year earlier, the 30-year fixed-rate mortgage averaged 6.74%. Meanwhile, the average rate on a 15-year fixed mortgage rose to 5.96% from 5.93% the previous week.

The average rate on a 30-year fixed mortgage inched higher by 6bps to 6.55% as of July 16, 2026, from 6.49% the previous week, marking the third consecutive week with increases, according to data compiled by Freddie Mac. “Purchase application demand has weakened recently", said Sam Khater, Freddie Mac’s Chief Economist. "Although housing affordability is more favorable and housing inventory continues to rise, thus the backdrop for prospective homebuyers is modestly improving.” Contracts to buy existing US homes fell in June as elevated mortgage rates continued to weigh on buyer demand, remaining above levels seen at the start of the year. Meanwhile, minutes from the FOMC's June meeting showed that only a few policymakers favored a rate hike, although renewed hostilities in the Middle East could reinforce inflationary concerns. Markets continue to price in at least one Federal Reserve rate hike by the end of 2026.

The average rate on a 30-year fixed mortgage edged up to 6.49% as of July 9, 2026, from 6.43% the previous week. "Mortgage rates have not changed much recently, but economic growth and housing affordability continue to improve for homebuyers as they shop for homes in today's market," said Sam Khater, Freddie Mac's Chief Economist. Meanwhile, minutes from the FOMC's June meeting showed that only a few policymakers favored a rate hike, although officials expressed growing concern about inflationary pressures. Markets continue to price in at least one Federal Reserve rate hike by the end of 2026.