In Reply to: Freaky Friday * posted by mh on September 17, 2026 at 09:52:33
Home shoppers holding out for relief from rising mortgage rates may be in for a long wait.
The weekly average rate on a 30-year fixed-rate home loan has been rising for months and this week climbed to just below 7% — its highest level in over 19 months.
The benchmark 30-year fixed rate mortgage rose to 6.95% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.26%.
This is the fourth week in a row that mortgage rates have moved higher. The average rate hasn’t reached this level since Jan. 30, 2025.
Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week. That average rate increased to 6.26% from 6.09% last week. A year ago, it was at 5.41%.