Freddie Mac reports 30-year mortgage rate climbs to 6.71%

The average rate on the benchmark 30-year fixed mortgage increased to 6.71% from 6.66% the previous week, marking the highest reading since July 31, 2025, Freddie Mac said in its Primary Mortgage Market Survey released Thursday. The 15-year fixed rate also rose, reaching 6.04% compared with 5.98% a week earlier.

Freddie Mac chief economist Sam Khater noted that purchase demand has stayed relatively stable, indicating continued buyer interest despite changing market conditions. Realtor.com senior economist Jiayi Xu linked the recent uptick to heightened Middle East tensions, which have lifted oil prices, stoked inflation concerns and pushed Treasury yields—and consequently mortgage rates—higher.

The survey highlighted that mortgage rates tend to track the 10-year Treasury yield, which was around 4.74% on Thursday afternoon. While the Federal Reserve does not set mortgage rates directly, its policy actions influence the broader bond market that drives mortgage pricing.