Mortgage Rates Inch Higher, Still Near 3-Year Low
Rates on 30-year mortgages rose to 6.09% from 6.06% last week while borrowing costs on 15-year mortgages edged up to 5.44%, up from 5.38%.
WASHINGTON — The average long-term U.S. mortgage rate ticked higher this week but remains near its lowest level in more than three years.
The benchmark 30-year fixed rate mortgage rate rose to 6.09% from 6.06% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.96%.
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also rose this week. That average rate inched up to 5.44%, up from 5.38% last week. A year ago, it was at 6.16%, Freddie Mac said.
Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
The modest increase in rates this week follows a jump in the 10-year Treasury yield as the bond market reacted to geopolitical tensions over tariff threats by the Trump administration as it pressed for control of Greenland and turbulence in Japan’s bond market.
The 10-year yield was at 4.27% at midday Thursday, up from 4.17% a week ago.
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.