Rising Treasury Rates Hint at Potential 7% Mortgages Ahead
WHO:
Morningstar - Orphe Divounguy, senior economist at Zillow.
Morningstar - Joel Berner, senior economist at Realtor.com.
Morningstar - Lisa Sturtevant, chief economist at Bright MLS.
Morningstar - National Association of Realtors.
WHAT:
Morningstar - The 30-year fixed-rate mortgage rose to an average of 6.85%, marking the highest level since mid-July 2025.
Morningstar - The 30-year mortgage rate increased by 22 basis points between Monday and Thursday.
ABC News Business - The average long-term U.S. mortgage rate climbed to 6.58%, the highest level in nearly 12 months.
Fox Business - The average rate on a 15-year fixed mortgage rose to 5.96%, up from 5.93% the previous week.
Fox Business - The 10-year Treasury yield rose slightly to 4.699% as of Thursday afternoon.
Morningstar - The average 30-year fixed-rate mortgage rose to 6.85%, the highest level of 2026.
Morningstar - The 30-year mortgage rate increased by 8 basis points to an average of 6.85%.
Morningstar - Freddie Mac reported the 30-year mortgage rate at 6.58%, the highest level of 2026.
Morningstar - The median price for a previously owned home in the U.S. reached a record high of $440,600 in June.
WHERE:
Morningstar - United States.
WHEN:
Morningstar - The last time the 30-year mortgage rate exceeded 7% was in January 2025.
Morningstar - The 30-year mortgage rate was last at 6.58% in August 2025.
WHY:
Fox Business - The tug-of-war between inflation and renewed conflict between the U.S. and Iran is reflected in current mortgage rates, as higher oil prices raise concerns about future inflation readings.
Morningstar - Rising tensions between the U.S. and Iran have increased energy prices, raising concerns about inflation.
Morningstar - Higher Treasury yields are linked to potential increases in mortgage rates.
HOW:
Fox Business - Mortgage rates are influenced by several factors, including the Federal Reserve and geopolitical events, and closely track the 10-year Treasury yield.
Morningstar - Freddie Mac calculates the average mortgage rate from thousands of loan applications.
Morningstar - Mortgage News Daily surveys mortgage lenders to determine rates.
(UPDATED July 24, 2026 05:52 UTC)
Mortgage rates have seen a significant increase, with the average 30-year fixed-rate mortgage rising to 6.85%, the highest level since mid-July 2025, and a 22 basis point jump since earlier this week. Additionally, the average long-term U.S. mortgage rate has climbed to 6.58%, the highest in nearly a year, while the 15-year fixed mortgage rate edged up to 5.96%. This rise in mortgage rates is largely influenced by the tug-of-war between inflation and renewed conflict between the U.S. and Iran, as higher oil prices raise concerns about future inflation readings.
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(UPDATED July 23, 2026 22:21 UTC)
The average 30-year fixed-rate mortgage in the United States has risen to 6.85%, marking the highest level of 2026, according to reports from Morningstar. This increase of 8 basis points comes amid rising energy prices and concerns about inflation, influenced by tensions between the U.S. and Iran, while Freddie Mac noted that the average mortgage rate was previously at 6.58% in August 2025. Additionally, the median price for a previously owned home reached a record high of $440,600 in June, reflecting the ongoing challenges in the housing market.