The average interest rate on a 30-year fixed mortgage in the United States has climbed to 6.58 percent, reaching its highest level since late August last year.
According to the report, this marks the third consecutive weekly increase, adding further pressure to an already challenging housing market.
Higher borrowing costs are making home purchases less affordable as home prices continue to rise.
Mortgage rates on 15-year fixed loans also moved higher during the week. These loans are commonly used by homeowners seeking to refinance existing mortgages.
The continued rise in mortgage rates is expected to weigh on housing demand, with elevated financing costs remaining a key obstacle for buyers despite ongoing activity in the U.S. real estate market.
Related Tweet:
Average 30-year US mortgage rate climbs to 6.58%, highest level in nearly a year https://t.co/xH2sbDzMGg
— O.C. Register (@ocregister) July 23, 2026
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TIPP Staff
