US 30-Year Mortgage Rate Rises to 6.69%, Highest Since July

The average 30-year fixed mortgage rate rose 3 basis points last week to 6.69%, its highest since July 2025. It was the fifth consecutive weekly increase, with rates now up 71 basis points since the Iran War began in late February.

The rise mirrors a surge in the 10-year Treasury yield, which lenders use to price mortgages. The yield has jumped 70 basis points over the same period, driven by persistent inflation concerns.

For a $500,000 mortgage, the increase translates to more than $200 in additional monthly principal and interest payments compared to late February, when rates briefly dipped below 6% for the first time since 2022.

The 30-year fixed rate could reach 7% before year-end if current inflationary pressures persist, further worsening the US housing affordability crisis.