U.S. Housing May Have Hit 2026 Peak as Mortgage Rates Rise to 6.69%
Updated
Updated · Real Estate News · Aug 6
U.S. Housing May Have Hit 2026 Peak as Mortgage Rates Rise to 6.69%
3 articles · Updated · Real Estate News · Aug 6
Summary
July closed home sales rose 7% from a year earlier, Zillow estimated, but economists said that may mark the strongest month of 2026 rather than the start of a rebound.
Pending sales then weakened as rates climbed again: Zillow estimated a 7.7% month-over-month drop in July, while Redfin reported a 3.7% week-over-week decline as of Aug. 6.
Mortgage demand is also fading. The 30-year fixed rate averaged 6.69% in the week ended Aug. 6, and overall loan applications fell 2.9% in the last week of July.
Inventory is expected to improve as sales cool, giving buyers more choice into the fall; Zillow said active listings were up 1.5% from a year earlier and 0.9% from June.