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US 30-year mortgage rate rises to 6.71%, reaching 13-month high

Borrowing costs increased across 30-year and 15-year fixed loans, according to Freddie Mac data, continuing pressure on housing affordability.

Updated Sep 3, 2026 · 17:20 UTC2 reports

The short version

  • The average rate on a standard 30-year fixed U.S. mortgage climbed to 6.71%, its highest point since July 2025.
  • The 15-year fixed mortgage rate also moved higher, rising to an average of 6.04%.
  • Rising financing expenses continue to elevate monthly payments for prospective homebuyers and refinancing borrowers.
  • Future rate directions remain tied to macroeconomic indicators, bond market behavior, and Federal Reserve policy expectations.

Key facts

  • Freddie Mac reported that the average rate on a 30-year fixed-rate mortgage increased to 6.71% from 6.66% the previous week.[ABC News · Associated Press]
  • The 30-year rate reached its highest point since July 31, 2025, when it stood at 6.72%, up from 6.50% recorded a year ago.[ABC News · Associated Press]
  • The average 15-year fixed-rate mortgage increased to 6.04% from 5.98% the prior week, compared to 5.60% at the same time last year.[ABC News · Associated Press]
  • Lenders typically align mortgage pricing with the 10-year Treasury yield, alongside broader factors such as inflation expectations and Federal Reserve interest rate policy.[ABC News · Associated Press]

What remains uncertain

  • The degree to which these elevated rates will further suppress aggregate national home sales in the coming quarters remains undetermined.[ABC News · Associated Press]

Sources