BUSINESS

Mortgage rates climb for 5th straight week, pushing average rate on a 30-year home loan above 7%

PUBLISHED Sep 24, 2026, 12:12 PM ET

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Mortgage rates climb for 5th straight week, pushing average rate on a 30-year home loan above 7%

Media Bias Meter

Sources: 19

Left 21%

Center 79%

Sources: 19

The average long-term U.S. mortgage rate rose above seven percent for the first time since January 2025, according to data released Thursday by mortgage buyer Freddie Mac. The weekly average rate on a thirty-year fixed-rate home loan increased to 7.03 percent from 6.95 percent the previous week, marking the fifth consecutive week of rate gains. A year ago, the comparable rate stood at 6.30 percent, reflecting persistent affordability pressures across the housing market. Additionally, the average rate for a fifteen-year fixed mortgage climbed to 6.42 percent from 6.26 percent. Higher borrowing costs reduce prospective homebuyers purchasing power by adding hundreds of dollars to monthly expenses, frequently causing shoppers to delay purchases or reconsider budgets. Market analysts note that elevated rates continue to constrain housing market activity and restrict inventory turnover as current homeowners retain lower locked-in financing terms. Freddie Mac compiles these averages using lender submissions nationwide to track weekly borrowing trends.

By Haya | JQJO News

Timeline of Events

On January 16 2025 average thirty-year mortgage rate reached 7.04 percent.
On February 15 2025 thirty-year fixed mortgage rates fluctuated near six percent.
On April 10 2025 housing market analysts observed steady borrowing cost declines.
On July 22 2025 mortgage rates hovered near mid-year economic benchmarks.
On November 05 2025 Federal Reserve policy shifts influenced long term yields.
On January 10 2026 early year economic reports showed moderate rate stabilization.
On February 20 2026 thirty-year mortgage rates initiated a five week climb.
On March 12 2026 mortgage buyer Freddie Mac reported five consecutive increases.
On March 19 2026 thirty-year fixed rate rose to 7.03 percent weekly average.
On March 26 2026 Freddie Mac published updated weekly average mortgage rate data.
Coming months will likely see suppressed homebuyer demand and delayed purchases.

News Intelligence

Immediate US impact: Higher borrowing costs immediately reduce prospective homebuyer purchasing power nationwide.
Possible long-term US impact: Persistent high rates may permanently depress housing market turnover and liquidity.
Most affected groups: Prospective homebuyers and real estate professionals face severe affordability constraints.
Reader priority: Readers should monitor financial news and Federal Reserve policy announcements closely.

Media Bias

Articles Published:: 19
Right Leaning:: 0
Left Leaning:: 4
Neutral:: 15

Explain Framing

Left: High rates highlight systemic housing affordability and economic inequality challenges. Center: Reports factual weekly mortgage survey data without partisan commentary or bias. Right: Emphasizes broader inflationary pressures and Federal Reserve monetary policy impacts.