30-Year Fixed Mortgage Rate Reaches 6.58%, Highest in Nearly a Year
Freddie Mac reported the average 30-year fixed mortgage rate rose to 6.58% this week, the highest level in about 11 months, while the 15-year rate climbed to 5.96%.
The average rate on the benchmark 30-year fixed mortgage increased to 6.58% this week, according to Freddie Mac’s Primary Mortgage Market Survey, marking the highest level in roughly 11 months. The rate was 6.55% the previous week and matched a level last seen on Aug. 21, 2025. A year ago, the rate stood at 6.74%.
"The 30-year fixed-rate mortgage averaged 6.58% this week," said Freddie Mac chief economist Sam Khater. "As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate can make a meaningful difference, potentially saving them thousands over the loan's lifetime."
The 15-year fixed mortgage also rose, reaching an average of 5.96% compared with 5.93% the week before and 5.87% a year earlier. Mortgage rates are influenced by factors such as the Federal Reserve’s policy and geopolitical events, and they tend to track the 10-year Treasury yield, which was 4.699% on Thursday.
Jeff DerGurahian, chief investment officer and head economist at LoanDepot, noted that while rates remain elevated, buyers should focus on the total cost of homeownership rather than trying to predict future rate movements. He added that the interplay between inflation and recent U.S.-Iran tensions is reflected in today’s rates, as higher oil prices could feed future inflation.
The rise in rates comes as the housing market shows modest signs of easing. 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 that real, inflation-adjusted home prices may effectively decline.