FX.co ★ US Mortgage Rates Reach Fresh 2025-High: MBA

The average 30-year fixed mortgage rate for loans up to $806,500 in the US rose by 5 basis points to 6.81% in the week ended July 31, 2026, marking its highest level in a year, according to the Mortgage Bankers Association. This followed a 7-basis-point increase in the previous week and largely reflected higher Treasury yields. At the same time, renewed hostilities in the Middle East pushed oil prices higher, stoking fresh inflation concerns.

Mortgage applications declined 2.9% over the week, following a 6.4% drop the week before. Applications for home purchases fell 3.6%, matching the prior week’s 3.6% decline, while applications to refinance existing mortgages decreased 1.9%, on top of a 9.9% fall in the previous week.