Average US Long-Term Mortgage Rate Climbs to 6.53%, Highest Level in Nine Months
Mortgage applications fell 8.5% last week as refinancing demand weakened and higher bond yields pushed borrowing costs to a nine-month high.
- On Thursday, Freddie Mac reported the benchmark 30-year fixed mortgage rate rose to 6.53% from 6.51% last week, reaching its highest level in nine months.
- Rates have trended higher since the war with Iran began, disrupting tanker passage through the Strait near Hormuz and driving inflation that influences the 10-year Treasury yield lenders use to price mortgages.
- New home sales fell 6.2% in April to a seasonally adjusted annual rate of 622,000 units, the Census Bureau reported Thursday, while mortgage applications dropped 8.5% last week as borrowing costs marched higher.
- Realtor economist Jake Krimmel said, "Buyers have more homes to choose from and asking prices continue to soften, but their dollars don't stretch as far as they did a few months back.
45 Articles
45 Articles
Average 30-Year Mortgage Rate Climbs to 9-Month High
The weekly average rate on a 30-year fixed-rate mortgage continued to climb for the most recent week, hitting its highest level in nine months. For the week ending May 27, the rate was 6.53 percent, up from the previous week’s 6.51 percent. The last time rates exceeded this level was for the week ending Aug. 27, 2025. Rates had dipped below the 6 percent level to hit 5.98 percent in late February, but have since been on the rise, according to Fr…
Weekly Mortgage Rates Tick Up as Inflation Flares Again
Mortgage rates are still drifting higher for their fourth straight week, and fresh inflation data suggests home buyers may not see much relief anytime soon.The average rate on a 30-year fixed-rate mortgage rose four basis points to 6.46% APR in…
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TelegraphHerald.comAverage U.S. long-term mortgage rate climbs to 6.53%, the highest level in 9 months
The average long-term U.S. mortgage rate rose again this week, reaching its highest level in nine months, another setback for prospective homebuyers.
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