Average 30-year US mortgage rate climbs to 6.55%, highest level in nearly a year
Higher borrowing costs are weighing on home sales as the 30-year rate reaches its highest level in nearly a year, Freddie Mac said.
- Freddie Mac reported Thursday that the average 30-year fixed mortgage rate climbed to 6.55% this week, reaching its highest level in nearly a year and raising borrowing costs for prospective homebuyers.
- Renewed fighting in Iran has driven crude oil prices sharply higher since late February, pushing up long-term Treasury yields that lenders use as a guide for pricing home loans.
- Pending home sales fell 5.4% month-over-month in June, while mortgage applications plunged 7% last week, according to the Mortgage Bankers Association and National Association of Realtors data.
- Lawrence Yun, National Association of Realtors chief economist, said the combination of record-high median home prices and elevated rates creates a "tepid housing market" especially difficult for first-time buyers.
- Central bankers will convene July 28-29 for a Federal Reserve meeting where they will assess inflationary pressures and determine future rate paths amid competing economic signals.
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Key West CitizenAverage 30-year U.S. mortgage rate climbs to 6.55%, highest level in nearly a year
The average long-term U.S. mortgage rate climbed this week to its highest level in nearly a year, driving up borrowing costs for prospective homebuyers. The...
Geopolitical tensions impact the housing market in the United States and increase financial pressure on those seeking to buy a home.
Mortgage rates jump to highest level in almost a year
Mortgage rates rose this week to the highest level in nearly a year, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage climbed to 6.55% – the highest level since August 2025 – from last week's reading of 6.49%. The average rate on a 30-year loan was 6.75% a year ago.SILICON VALLEY ELITE SHIFT RECORD WEALTH TO BUILD FLORI…
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