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U.S. mortgage rates climbed to their highest level in a year, with the average rate on a 30-year fixed mortgage rising to 6.66% for the week ending July 30, according to Freddie Mac's Primary Mortgage Market Survey released Thursday.
The rate marked the highest reading since July 2025 as inflation concerns, Federal Reserve policy expectations and geopolitical tensions continued pushing long-term borrowing costs higher.
Mortgage rates generally track movements in the 10-year U.S. Treasury yield rather than the Federal Reserve's benchmark interest rate. Treasury yields rose after the Fed left its policy rate unchanged on Wednesday, while three members of the Federal Open Market Committee voted for a rate hike, fueling expectations that borrowing costs could increase later this year.
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U.S. mortgage rates climbed to their highest level in a year, with the average rate on a 30-year fixed mortgage rising to 6.66% for the week ending July 30, according to Freddie Mac's Primary Mortgage Market Survey released Thursday.
The rate marked the highest reading since July 2025 as inflation concerns, Federal Reserve policy expectations and geopolitical tensions continued pushing long-term borrowing costs higher.
Mortgage rates generally track movements in the 10-year U.S. Treasury yield rather than the Federal Reserve's benchmark interest rate. Treasury yields rose after the Fed left its policy rate unchanged on Wednesday, while three members of the Federal Open Market Committee voted for a rate hike, fueling expectations that borrowing costs could increase later this year.
Don't Miss:
#year #policy
2 months ago
