FX.co ★ U.S. MBA 30-Year Mortgage Rate Edges Higher to 6.97%

The average U.S. 30-year mortgage rate tracked by the Mortgage Bankers Association (MBA) has inched up to 6.97%, compared with 6.85% previously, according to data updated on 16 September 2026.

This rise of 12 basis points marks a renewed uptick in borrowing costs for homebuyers and refinancers, underscoring persistent pressure in the housing finance market. While the move keeps rates below the 7% threshold only marginally, it may weigh further on affordability and could dampen mortgage application volumes if the trend continues.

Investors and housing market participants will be watching upcoming economic data and central bank signals closely to gauge whether this latest increase represents a short-term fluctuation or the start of a more sustained move higher in longer-term borrowing costs.