Freddie Mac reports 30-year mortgage rate climbs to 6.55%

The average rate on a benchmark 30-year fixed mortgage increased to 6.55% this week, up from 6.49% the prior week, Freddie Mac said in its Primary Mortgage Market Survey released Thursday. The level marks the highest reading since August 2025, while the 15-year fixed rate rose to 5.93% from 5.82%.

Freddie Mac chief economist Sam Khater noted that purchase-application demand has weakened, but improving affordability and rising inventory are modestly easing conditions for prospective buyers. Realtor.com senior economist Hannah Jones said June CPI data showed headline inflation cooling to 3.5% and core inflation easing to 2.6%, below expectations, and that renewed Middle-East tensions have lifted oil prices and Treasury yields, which could keep mortgage rates elevated.

Mortgage rates tend to move in line with the 10-year Treasury yield, which was around 4.57% on Thursday. The latest data arrives as the housing market shows some signs of improvement, though tighter inventory has kept home prices high. Realtor.com’s mid-year update to its 2026 housing forecast projects home-price growth to slow to 1.2% this year, below the current inflation rate, implying a modest decline in real terms.