US 30-Year Mortgage Rates Hit One-Year High at 6.69%

The average long-term U.S. mortgage rate increased for a fifth consecutive week, with the benchmark 30-year fixed rate reaching 6.69%. According to the Federal Home Loan Mortgage Corporation, this is the highest level recorded since July 2025. The trend has contributed to sluggish home sales as higher borrowing costs reduce the purchasing power of prospective buyers.

In contrast to the 30-year benchmark, 15-year fixed-rate mortgages experienced a slight decline, averaging 6.01%. The upward pressure on long-term rates is closely tied to the 10-year Treasury yield, which climbed to 4.65% from a February low of 3.97%.

Economic instability is driving this shift. Factors including persistent inflation and the U.S. war with Iran have caused crude oil prices to soar, which in turn heightened inflation expectations and influenced bond yields.