FX.co ★ US 30-Year Mortgage Rate Rises to 1-Year High

The average rate on a 30-year fixed mortgage in the US rose to 6.69% as of August 8, 2026, up from 6.66% a week earlier. This marks the fifth consecutive weekly increase and the highest level since late July 2025.

Mortgage rates have continued to climb amid heightened inflation concerns, driven by the ongoing war with Iran and the Federal Reserve’s decision to leave benchmark interest rates unchanged. The resulting increase in borrowing costs has further strained housing affordability, keeping many potential buyers out of the market.

Reflecting this pressure, applications for new mortgages declined in the final two weeks of July, according to the Mortgage Bankers Association. “While mortgage rates continue to influence affordability, the housing market is showing signs of adjustment, with listing prices modestly below year-ago levels and for-sale inventory improving from the limited supply seen in recent years,” said Sam Khater, Freddie Mac’s chief economist.