US 30-Year Mortgage Rate Hits One-Year High at 6.66%
On Thursday, Freddie Mac announced that for the week ending July 30, the 30-year fixed-rate mortgage climbed to 6.66%, reflecting an 8 basis point rise from the prior week's rate of 6.58%. This increase signifies the highest rate in nearly a year, yet it is still marginally lower than the 6.72% recorded a year earlier. Notably, this marks the fourth week in a row that rates have risen.
Key facts
- 30-year fixed-rate mortgage reached 6.66% for week ending July 30
- Increase of 8 basis points from previous week's 6.58%
- Highest level in approximately one year
- Rate a year ago was 6.72%
- Fourth straight weekly increase
- Reported by Freddie Mac on Thursday
Entities
Institutions
- Freddie Mac
Locations
- United States
Sources
- Quartz —