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Average 30-Year US Mortgage Rate Climbs to 6.58%, Highest Level in Nearly a Year
Escalating Middle East hostilities pushed oil prices higher and rattled bond markets, leaving would-be homebuyers with little relief, the Mortgage Bankers Association said.
- The average 30-year fixed mortgage rate rose to 6.69% last week, marking the highest level since August 2025, according to the Mortgage Bankers Association.
- Escalating tensions in the Middle East drove oil prices sharply higher, rattling bond markets and pushing mortgage rates to yearly highs amid inflation concerns.
- Refinance mortgage applications fell 55% from 2019 levels and 75% from 2021, as rising rates curb borrower activity. The 10-year Treasury yield reached 4.7% on Thursday, up from 4.57% a week ago.
- MBA Chief Economist Mike Fratantoni warned that inflation remains sticky, stating, "Incoming data showed that inflation dropped in June, but with oil prices spiking again, that improvement seems unlikely to continue in July data."
- With inflation between 3.5% and 4%, the "real" 30-year fixed mortgage rate is only about 3%, relatively low compared to periods before 2009 when the Federal Reserve deployed quantitative easing.
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Average 30-year US mortgage rate climbs to 6.58%, highest level in nearly a year
The average long-term U.S. mortgage rate climbed this week to its highest level in nearly 12 months, pushing up borrowing costs for prospective homebuyers at a time when rising oil prices are already squeezing household budgets
·New York, United States
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Santa Maria Times+15 Reposted by 15 other sources
Average rate on a 30-year mortgage hits the highest level in nearly 12 months, Freddie Mac says, after rising to 6.58%
Average rate on a 30-year mortgage hits the highest level in nearly 12 months, Freddie Mac says, after rising to 6.58%.
·Calhoun, United States
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Mortgage Rates Rise To 6.77%, Driven By Bond Market Fears Of Inflation And Ballooning Debt
Average 30-year fixed mortgage rate rose to 6.77% today, the highest in a year, and a hair above the highs earlier in July and May, and up by nearly 80 basis points from the February low.
·Ra'anana, Israel
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Coverage Details
Total News Sources50
Leaning Left6Leaning Right7Center30Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
14%
C 70%
R 16%
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