U.S. mortgage rates near 7% as economists warn of further rise
Economists warned that 30-year mortgage rates in the United States could rise above 7% as bond yields continued to climb, CBS News reported on September 4, 2026. Earlier in August, Freddie Mac reported the average 30-year fixed-rate mortgage had risen to 6. 71%, the highest level since July 2025. AP News noted the same rate was the highest in over a year as oil prices and Treasury yields pushed borrowing costs up.
CNBC had earlier recorded a peak of 6. 87% in late July, the highest since June 2025, linking the increase to higher oil prices amid renewed conflict involving Iran. Prior reports from AP News showed the rate at 6. 66% near its yearly peak, and another CNBC analysis observed a modest rise in mortgage applications and a growing share of adjustable-rate loans as rates climbed.
