30-year fixed mortgage rates rise 10 basis points to 6.64% amid seasonal housing market slowdown.
US mortgage rates increased across most loan types as the prime home-selling season nears its close. The 30-year fixed rate rose 10 basis points to 6.64%, while the 5/1 adjustable-rate mortgage surged 50 basis points to 6.74%. The 15-year fixed rate edged up 2 basis points to 5.88%.
Last week’s rates were slightly lower, with the 30-year fixed at 6.54% and the 5/1 ARM at 6.24%. Refinance rates also climbed, with the 30-year fixed refinance rate matching the purchase rate at 6.64%. National averages reflect rounded figures from lender surveys.
The increases come as housing demand typically softens in late summer, though elevated rates may further dampen market activity. Refinance rates remain marginally higher than purchase rates in most categories.