Mortgage rates jumped to a new high for the year, putting another hurdle in front of house hunters eager to buy.
Now the question is whether the 30-year fixed-rate mortgage rate will go back up to 7%
Most Read from MarketWatch “It’s hard to rule anything out,” Orphe Divounguy, a senior economist at real-estate platform Zillow Z ZG, told MarketWatch. Mortgage rates jumped 8 basis points to an average of 6.85% on Thursday, according to data from Mortgage News Daily. That’s the highest level for the 30-year mortgage rate since mid-July of 2025.
The 30-year rate moved up 22 basis points between Monday and Thursday. Separate data from Freddie Mac FMCC showed the 30-year mortgage rate rising to an average of 6.58% as of July 23, the highest level of 2026. The 30-year mortgage was last at this level in August 2025, according to Freddie Mac’s data.