US 30-Year Mortgage Rate Rises to 6.66% as Housing Affordability Tightens
Updated
Updated · Bloomberg · Aug 27
US 30-Year Mortgage Rate Rises to 6.66% as Housing Affordability Tightens
3 articles · Updated · Bloomberg · Aug 27
Summary
6.66% was the average rate on a 30-year fixed U.S. mortgage this week, up from 6.65% and marking the first increase in three weeks, Freddie Mac said Thursday.
That uptick adds pressure to buyers as affordability worsens and the housing market continues to weaken.
The benchmark rate also stands above 6.56% a year earlier, showing borrowing costs remain elevated even after recent week-to-week stability.
Recent reports tied stubbornly high mortgage rates to broader market strains, including war-driven oil price pressure and concerns over U.S. government debt.