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US 30-Year Mortgage Rate Tops 7%

By Markets Desk · 2026-09-19 · Updated 2026-09-19 13:01 UTC
A set of brass house keys resting on a wooden table next to a closed notebook
Illustration: Tradingbird

US 30-year mortgage rates have surged to the brink of 7%, with the latest Freddie Mac and Bankrate surveys showing averages of 6.95% and 6.97% respectively. This near-threshold pricing is dampening refinance activity and weighing on home sales volumes as borrowing costs continue to climb.

  • Fresh data from Freddie Mac and Bankrate confirms the 30-year fixed average is currently sitting at 6.95% and 6.97% respectively, just shy of the 7% barrier. These weekly surveys highlight a steady climb from recent weeks, driven by higher bond yields and persistent inflation expectations, effectively locking borrowers out of lower rates as they hover near this psychological threshold.

    Source: eciks.org

  • The average 30-year fixed mortgage rate has risen above 7%. This increase reduces home sales volumes and limits refinancing activity in the US market.

    Source: The Globe and Mail
Based on reporting by The Globe and Mail and eciks.org, compiled by the Tradingbird desk.

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