2 sources·Started 12d ago·Updated 12d ago

US mortgage rates jump to 6.55%, highest in nearly a year

Freddie MacSam KhaterHannah JonesRealtor.comAP NewsFox BusinessFederal Reserve10-year Treasury yield

Sources

2outlets

FBAN

Coverage

2articles

The average rate on a 30-year fixed mortgage climbed to 6.55% this week, the highest level since August 2025, according to Freddie Mac. The rate rose from 6.49% last week, while a year ago it was 6.75%. Source: Fox Business Source: AP News

Why rates rose

Mortgage rates are influenced by the 10-year Treasury yield, which has increased amid rising oil prices due to the Middle East conflict. The 10-year yield hovered around 4.57% as of Thursday. Source: AP News Realtor.com senior economist Hannah Jones noted that while June CPI data showed cooling inflation, geopolitical tensions pushed yields higher. Source: Fox Business

Impact on housing

The uptick in rates adds hundreds of dollars to monthly payments, further straining affordability. However, Freddie Mac chief economist Sam Khater pointed out that housing affordability is more favorable and inventory continues to rise, providing a modestly improving backdrop. Source: Fox Business Home price growth is expected to slow to 1.2% this year, effectively declining in real terms. Source: Fox Business Meanwhile, purchase application demand has weakened. Source: Fox Business

Sources

5 quotes

Fox Business↗

“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%.”

AP News↗

“The benchmark 30-year fixed rate mortgage rate rose to 6.55% from 6.49% last week, mortgage buyer Freddie Mac said Thursday.”

Fox Business↗

“"Purchase application demand has weakened recently, but housing affordability is more favorable and housing inventory continues to rise, thus the backdrop for prospective homebuyers is modestly improving," said Freddie Mac chief economist Sam Khater.”

Fox Business

Related events

Mortgage rates edge up to 6.49% amid geopolitical and inflation uncertainty

APFO2 sources·32d ago

50%

Mortgage rates rise to 6.49% as home prices hit record high

APCNCN4 sources·18d ago

50%

↗

“"June CPI data showed headline inflation cooling to 3.5% and core inflation easing to 2.6%, both below expectations and a welcome sign for rate-watchers," said Realtor.com senior economist Hannah Jones. "However, the conflict in the Middle East flared up once again this week, pushing oil prices and Treasury yields higher."”

AP News↗

“Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power at a time when affordability challenges continue to sideline many aspiring homeowners.”