The average long-term U.S. mortgage rate rose for the fourth week in a row on Thursday, pushing the benchmark 30-year fixed rate to 6.66% from 6.58% last week. That is the highest level for the 30-year mortgage rate since July 31, 2025, and it leaves homebuyers facing a cost jump that can quickly run into the hundreds of dollars a month.
The 15-year fixed-rate mortgage also moved higher, climbing to 6.04% from 5.96% a week earlier. A year ago, the 30-year rate stood at 6.72% and the 15-year rate was 5.85%, which shows how much the path has shifted in recent months even if today’s 30-year figure is still slightly below last year’s level.
For people searching mortgage loan rates today, the timing matters because the increase lands just after the Federal Reserve left its key interest rate unchanged on Wednesday. That decision did not come with calm inside the central bank: three regional Fed bank presidents dissented in favor of higher rates during this week’s meeting, a sign that the debate over inflation is still open and that policymakers are no longer moving in unison.
Anthony Smith said the Fed members are no longer in lockstep on inflation and that their next move is not going to be a rate cut. That matters for borrowers because mortgage rates do not move in a vacuum. They generally track the 10-year Treasury yield, which was 4.66% at midday Thursday, up from 3.97% in late February when the average 30-year mortgage rate briefly dipped below 6% for the first time since late 2022.
Since then, mortgage rates have mostly risen this year as crude oil prices climbed sharply and long-term bond yields moved higher, feeding expectations for hotter inflation. Higher borrowing costs shave down what buyers can afford, and even a modest rate increase can change the monthly payment enough to push a household out of the market or force it to look at a cheaper home.
That pressure is one reason U.S. home sales have stayed sluggish this year. The latest move leaves buyers with little relief for now, and the next turn in mortgage rates will depend on whether bond markets keep pushing upward or finally settle after months of nervous trading.
