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Are mortgage rates heading back above 7%? Here's what experts think.
- According to Freddie Mac, the average 30-year fixed mortgage rate rose to 6.71% for the week ending September 3, marking the highest level in 13 months.
- Global bond market turmoil and inflation concerns, intensified by the war in Iran and energy supply disruptions, are driving up Treasury yields and mortgage rates.
- Grand Valley State University economics professor Paul Isely noted that compared to February, current rates add $150 to $200 monthly to mortgage payments for a $350,000 home.
- Real estate broker Cat Conklin of 616 Realty in Ada says rising rates force a focus on home presentation to attract buyers amid reduced competition.
- Despite elevated rates, demographics keep demand steady as millennials reach prime homebuying age, though Isely warns borrowing costs will likely remain higher than anticipated for the next two years.
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Mortgage rates are at a 13-month high. What does that mean for buying and selling a home?
Mortgage rates have climbed again, reaching their highest level in 13 months and prompting both buyers and sellers to adjust their strategies in the local housing market.
·Grand Rapids, United States
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williamsnews.comZillow, Redfin speak on mortgage rate change, housing market
Potential homebuyers already grappling with affordability challenges saw mortgage rates spike this week to levels not seen since spring of last year. The daily 30-year fixed-rate mortgage (FRM) clocked in at 6.91% on Sept. 2, the highest since 6.92% on May 26, 2025. Real estate technology…
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Total News Sources10
Leaning Left0Leaning Right0Center8Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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