US 30-Year Mortgage Rate Jumps to 6.55% as Middle East Conflict Lifts Treasury Yields
Updated
Updated · Fox Business · Jul 16
US 30-Year Mortgage Rate Jumps to 6.55% as Middle East Conflict Lifts Treasury Yields
3 articles · Updated · Fox Business · Jul 16
Summary
Freddie Mac said the average 30-year fixed mortgage rate rose to 6.55% this week from 6.49%, the highest level since August 2025; the 15-year rate climbed to 5.93% from 5.82%.
The increase tracked a rise in the 10-year Treasury yield to about 4.57%, after renewed Middle East fighting pushed oil prices higher and lifted inflation expectations.
June CPI still offered some relief, with headline inflation cooling to 3.5% and core inflation to 2.6%, but economists said mortgage rates could stay elevated while oil markets remain volatile.
Purchase demand has weakened recently, Freddie Mac said, though improving affordability and rising inventory are modestly improving conditions for buyers.
Realtor.com now expects 2026 home price growth to slow to 1.2%, implying real home prices would effectively decline after inflation.