Average rate on a 30-year mortgage climbs to highest level in 13 months
Summary
The average rate for a 30-year fixed mortgage in the U.S. increased to 6.71%, the highest level in over a year. Higher mortgage rates make monthly payments more expensive, which may cause some people to delay buying homes and slow down home sales.Key Facts
- The 30-year fixed mortgage rate rose from 6.66% last week to 6.71%.
- One year ago, the rate was 6.50%.
- This is the highest rate since July 31, 2025, when it was 6.72%.
- The 15-year fixed mortgage rate also rose, from 5.98% to 6.04%.
- A year ago, the 15-year rate was 5.60%.
- Higher mortgage rates increase monthly payments for borrowers.
- Rising rates can cause people to wait before buying homes, slowing home sales.
- Mortgage rates tend to follow the 10-year U.S. Treasury yield and are affected by inflation and Federal Reserve policies.
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