Industry News

Mortgage rates surge: Weekly averages jump to 2026 high; daily surpasses 7%

Treasury market turbulence and persistent inflation fears are driving borrowing costs higher.

Key takeaways:

The average 30-year, fixed-rate mortgage rose to 6.76%, its highest weekly level since June 2025, according to Freddie Mac.

Daily mortgage rates climbed even higher, with the average 30-year, fixed rate reaching 7.07% for the first time since May 2025.

Inflation concerns, expectations that interest rates may remain elevated for longer and growing uncertainty around government policy are adding pressure to long-term borrowing costs.

Mortgage rates surged again, hitting a 2026 high for the second week in a row.

As of Thursday, the 30-year, fixed-rate mortgage averaged 6.76% on a weekly basis, according to mortgage giant Freddie Mac. It's the highest weekly average since June 2025.

The 15-year, fixed-rate mortgage similarly increased, reaching a weekly average of 6.09%. It's up from a week earlier and the comparable time last year.

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