U.S. 30-Year Mortgage Rate Hits 6.76% as Iran War Lifts Inflation Expectations
Updated
Updated · Newsday · Sep 10
U.S. 30-Year Mortgage Rate Hits 6.76% as Iran War Lifts Inflation Expectations
3 articles · Updated · Newsday · Sep 10
Summary
Freddie Mac’s average 30-year fixed mortgage rate rose to 6.76% this week, up from 6.71% and the highest level since June 2025 after climbing more than 0.75 percentage point since late February.
A $500,000 mortgage now carries a roughly $3,246 monthly principal-and-interest payment, $255 more than at February’s 5.98% low, as oil-driven inflation fears push 10-year Treasury yields to their highest since 2023.
Long Island lenders said buyer interest has stayed firm despite higher borrowing costs, with Suffolk’s median single-family home price matching a record $750,000 in July and Nassau’s reaching $880,000, just below its peak.
That resilience contrasts with the national market, where existing-home sales fell 1.2% year over year in August to their slowest annualized pace since June 2025.
Mortgage News Daily’s 30-year index already reached 7.07% on Thursday, and upcoming U.S. inflation data plus the Federal Reserve’s rate decision could shape whether borrowing costs rise further.