Mortgage loan rates today climbed to 6.66% on Thursday, the highest level in a year, as the average long-term U.S. mortgage rate rose for a fourth consecutive week. The move adds to monthly costs for homebuyers and people refinancing a loan, trimming how much house they can afford at the same income.
6.66% was the average rate on a 30-year fixed mortgage, up from 6.58% last week and above 6.04% on 15-year fixed-rate loans. A year ago, the 30-year average was 6.72% and the 15-year average was 5.85%, which shows the recent climb is taking rates back toward levels borrowers were already paying last year.
Freddie Mac and Anthony Smith
6.66% also marked the highest average 30-year mortgage rate since July 31, 2025, even though as recently as late February the rate had dipped slightly below 6% for the first time since late 2022. Anthony Smith, senior economist at Realtor.com, tied the Fed decision and inflation expectations together: "That's a signal that Fed members are no longer in lockstep on inflation and that their next move is not going to be a rate cut".
4.66% was the midday level for the 10-year Treasury yield, the benchmark mortgage lenders watch closely when setting long-term borrowing costs. The average long-term mortgage rate generally follows that yield, and the recent move has come even after the Federal Reserve left its key interest rate unchanged on Wednesday, with three regional Fed bank presidents dissenting in favor of higher rates during the two-day meeting.
Late February to Thursday
3.97% was the 10-year Treasury yield in late February, before the war broke out, when mortgage rates were still below 6%. Since then, mortgage rates have mostly been rising this year as crude oil prices moved higher and expectations for hotter inflation built, while U.S. home sales stayed sluggish. For borrowers, the practical step is simple: compare the monthly payment on a quoted rate against the payment on the same loan amount a week ago, because even a few basis points (hundredths of a percent) can change the bill.
How long mortgage rates stay near a one-year high now depends on whether the 10-year Treasury yield keeps climbing or eases back from 4.66%.
Alex Veiga reported this story for.
