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Mortgage rates hit highest level in nearly a year
Fox Business • • business
Key Points:
- Mortgage rates have risen to their highest level in nearly a year, with the 30-year fixed mortgage rate reaching 6.58%, up from 6.55% last week, according to Freddie Mac's latest survey.
- The 15-year fixed mortgage rate also increased slightly to 5.96% from 5.93% the previous week, remaining close to last year's average of 5.87%.
- Mortgage rates are influenced by factors such as the Federal Reserve, geopolitical tensions, and the 10-year Treasury yield, which recently rose to 4.699%.
- Despite elevated mortgage rates, experts advise homebuyers to focus on the overall cost of homeownership rather than trying to predict future rate changes.
- Housing market conditions are improving for buyers, with Realtor.com forecasting slower home price growth of 1.2% in 2026, which would mean prices are effectively declining when adjusted for inflation.
