Freddie Mac data shows mortgage rates rising to 6.52%, the highest level in nearly eight months, pressuring housing affordability.
The average 30-year fixed-rate mortgage in the US increased to 6.52% this week, up from 6.48% last week. This marks the highest rate since August 25, when it stood at 6.56%. The rise reflects ongoing pressure in the bond market and elevated borrowing costs for homebuyers.
Rates have hovered near a floor of 5.98% to 6.08% since late August 2022, with a brief dip to 5.98% in early February. The current rate sits between the 100-week and 200-week moving averages of 6.50% and 6.62%, signaling a neutral bias in longer-term trends.
Affordability remains a key concern, as high mortgage rates keep potential buyers on the sidelines despite stabilizing home prices. Forecasts for 2026 suggest a slow-growth, high-rate housing market, with existing-home sales projected at 4.0–4.2 million annually and median prices around $420,000–$430,000.