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Mortgage rates hit a new high for 2026, marching closer to 7%
Higher borrowing costs are adding hundreds of dollars to monthly payments and keeping refinancing out of reach for many homeowners, economists said.
- On Thursday, Freddie Mac reported the average 30-year fixed mortgage rate reached 6.71%, the highest level in more than a year. This marks a significant milestone as borrowing costs accelerate upward.
- Geopolitical tensions from the conflict with Iran have reignited inflation concerns, triggering a global bond sell-off. As investors demand higher returns, 10-year Treasury yields surged, pulling mortgage rates higher.
- The National Association of Realtors reported pending home sales fell in July to their weakest level this year. Elevated borrowing costs have constrained buyer purchasing power and refinancing activity.
- Federal Reserve Governor Christopher Waller suggested recent inflation data might preclude an immediate rate hike at the September 15–16 meeting. Market expectations for future policy adjustments remain volatile as borrowing costs stay elevated.
- Mounting concerns over $40 trillion in U.S. government debt continue to pressure bond yields. Economists expect mortgage rates to remain in the mid-to-upper 6% range, further restricting housing turnover.
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Average rate on a 30-year mortgage climbs to highest level in 13 months - WXXV News 25
By ALEX VEIGA Mortgage rates rose again this week, driving the average long-term U.S. home loan rate to its highest level in more than a year. The benchmark 30-year fixed rate mortgage rate rose 6.71% from 6.66% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.50%. Higher mortgage rates can add hundreds of dollars...
Mortgage rates are at a 13-month high. What does that mean for buying and selling a home?
Mortgage rates have climbed again, reaching their highest level in 13 months and prompting both buyers and sellers to adjust their strategies in the local housing market.
·Grand Rapids, United States
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Coverage Details
Total News Sources139
Leaning Left11Leaning Right17Center91Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
C 77%
14%
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