US Mortgage Rates Hit One-year High at 6.66%
WHO:
Bloomberg - Michael McKee discussed mortgage rates on "Bloomberg Real Yield."
CNN - Jeff DerGurahian is the head economist at loanDepot.
AP News - Anthony Smith is a senior economist at Realtor.com.
AP News - Bob Broeksmit is the CEO of the Mortgage Bankers Association.
WHAT:
CNN - The average 30-year fixed mortgage rate climbed to 6.66%, marking the biggest one-week jump in mortgage rates in 10 weeks.
AP News - The average rate on a 15-year fixed-rate mortgage rose to 6.04% from 5.96%.
AP News - The 10-year Treasury yield was 4.66% at midday Thursday.
AP News - Sales of previously occupied U.S. homes were up 0.7% from January to June compared to the same period last year, but still hovering close to a 4-million annual pace, far short of the historic norm of 5.2 million.
CBS News - The rate on a conventional 30-year mortgage averaged 6.66% in the week ending July 30, the highest level since July 2025.
CBS News - Deutsche Bank expects the Fed to raise rates twice this year by a total of 0.50 percentage points, bringing the federal funds rate to between 4% and 4.25%.
CBS News - New government data shows the Fed's preferred measure of inflation slowed in June, although inflation remains above the central bank's 2% annual target.
Bloomberg - US mortgage rates rose to 6.66%, the highest level in a year.
ABC News Business - The average long-term U.S. mortgage rate increased for the fourth consecutive week.
CNN - The average 30-year fixed mortgage rate climbed from 6.58% to 6.66%, marking the biggest one-week jump in 10 weeks.
AP News - The average rate on a 30-year mortgage was 6.66%, up from 6.58% the previous week.
AP News - The average rate on a 15-year fixed-rate mortgage rose to 6.04% from 5.96%.
CNN - Mortgage applications fell 6.4% last week, and refinance applications plunged by 10%.
AP News - Sales of previously occupied U.S. homes were up 0.7% from January to June compared to the same period last year.
WHERE:
CBS News - The conflict appeared to expand to Egypt after drone strikes caused two natural gas vessels to catch fire in Egypt's Mediterranean port of Damietta.
CNN - The context of rising mortgage rates is linked to the ongoing war in Iran.
WHEN:
AP News - The average mortgage rate is the highest since July 31, 2025, when it was at 6.72%.
CNN - The average mortgage rate was below 6% for the first time in years just a few months ago.
AP News - The 10-year Treasury yield was 4.66% at midday Thursday.
WHY:
AP News - Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power.
AP News - The upward trend in mortgage rates has given some would-be homebuyers reason to pause.
CBS News - Concerns that fighting in the Middle East could accelerate inflation are contributing to rising mortgage rates, as shipping disruptions in the region push up oil and fuel prices.
CNN - Rising oil prices and stubborn inflation are driving mortgage rates higher.
AP News - Higher mortgage rates can limit homebuyers' purchasing power and lead to delays in buying homes.
AP News - The Iran war has driven crude oil prices sharply higher, fueling expectations of increased inflation.
HOW:
AP News - Mortgage rates are influenced by several factors, including the Federal Reserve’s interest rate policy decisions and bond market investors’ expectations for the economy and inflation.
AP News - Mortgage rates generally follow the trajectory of the 10-year Treasury yield, which is influenced by the Federal Reserve’s interest rate policy decisions.
(UPDATED July 31, 2026 01:31 UTC)
The average 30-year fixed mortgage rate has climbed to 6.66%, marking the largest one-week increase in mortgage rates in ten weeks, while the average rate on a 15-year fixed-rate mortgage has risen to 6.04%. This surge in mortgage rates can add hundreds of dollars a month in costs for borrowers, which is causing some potential homebuyers to reconsider their options. Factors such as the Federal Reserve’s interest rate policy and bond market investors’ expectations for the economy and inflation are influencing these rising rates.
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(UPDATED July 30, 2026 20:26 UTC)
Mortgage rates have reached their highest level since July 2025, averaging 6.66% for a conventional 30-year loan, according to CBS News. Deutsche Bank anticipates that the Federal Reserve will raise rates twice this year, totaling a half percentage point increase, which would bring the federal funds rate to between 4% and 4.25%. Meanwhile, concerns about escalating conflict in the Middle East, particularly after drone strikes in Egypt's Mediterranean port of Damietta, are contributing to rising inflation and shipping disruptions that are pushing up oil and fuel prices.
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(UPDATED July 30, 2026 19:28 UTC)
Mortgage rates in the U.S. have surged to 6.66%, marking the highest level in a year, as the average long-term rate increased for the fourth consecutive week. This rise, attributed to escalating oil prices and persistent inflation linked to the ongoing war in Iran, has resulted in a 6.4% drop in mortgage applications and a significant 10% plunge in refinance applications. Additionally, the average rate on a 15-year fixed mortgage has climbed to 6.04%, reflecting the broader trend influenced by the 10-year Treasury yield and the Federal Reserve's interest rate policies.