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Mortgage rates rise to 6.55%: Freddie Mac
Fox Business • • business
Key Points:
- Mortgage rates have risen to 6.55% for the 30-year fixed mortgage, marking the highest level since August 2025, up from 6.49% last week, according to Freddie Mac's latest survey.
- The average rate on a 15-year fixed mortgage also increased to 5.93% from 5.82% the previous week.
- Despite rising rates, housing affordability is improving due to increased inventory and modestly weakening purchase application demand, as noted by Freddie Mac's chief economist Sam Khater.
- Mortgage rates closely follow the 10-year Treasury yield, which rose amid geopolitical tensions and higher oil prices, despite recent signs of cooling inflation.
- Realtor.com forecasts slower home price growth of 1.2% in 2026, indicating that home prices may effectively decline when adjusted for inflation.
