Top Stories · October 8, 2026
Average long-term US mortgage rate rises to highest level in nearly 3 years
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Neutral Summary
The average 30-year fixed-rate mortgage in the U.S. has risen to 7.40%, marking its highest level in nearly three years and the seventh consecutive weekly increase. This rise is attributed to bond market volatility fueled by a war with Iran, surging oil prices, and high government debt. The increased borrowing costs have significantly impacted the housing market, leading to a decline in mortgage applications and slow home sales activity.
The average 30-year fixed-rate mortgage in the U.S. has risen to 7.40%, marking its highest level in nearly three years and the seventh consecutive weekly increase. This rise is attributed to bond market volatility fueled by a war with Iran, surging oil prices, and high government debt. The increased borrowing costs have significantly impacted the housing market, leading to a decline in mortgage applications and slow home sales activity.