US Mortgage Rates Rise to Highest Level Since May 2025

2026-09-16 11:19 By Joana Ferreira 1 min. read

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%.



News Stream
US Mortgage Rates Rise to Highest Level Since May 2025
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%.
2026-09-16
US Mortgage Rates Hit 15-Month High
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%.
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US Mortgage Rates Edge Higher Toward One-Year Highs
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%.
2026-09-02