US Mortgage Rates Rise, Snapping Declining Streak: MBA

2025-10-01 11:07 By Joana Taborda 1 min. read

The average contract interest rate on 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) in the US rose to 6.46% in the week ending September 26, 2025, up from 6.34% the previous week , which was the lowest level since September 2024, according to the Mortgage Bankers Association.

The increase ended a four-week streak of declining rates, "as Treasury yields pushed higher on recent, stronger than expected economic data.

After the burst in refinancing activity over the past month, this reversal in mortgage rates led to a sizeable drop in refinance applications, consistent with our view that refinance opportunities this year will be short-lived,” said Joel Kan, MBA’s vice president.

Meanwhile, the average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $806,500) roseto 6.54% from 6.44%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.24% from 6.14%.



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