US mortgage rates rise to highest level since last August

Odaily Planet Daily News This week, US mortgage rates rose to their highest level since last August, which is undoubtedly another piece of bad news for homebuyers during what is typically the busiest period of the year for real estate sales. Mortgage agency Freddie Mac said Thursday that the average rate on a 30-year fixed-rate mortgage rose to 6.51% this week, up from 6.36% last week.

In addition, rising costs of homeowners insurance and property taxes in many regions have also deterred buyers. The rise in mortgage rates this year has reversed the downward trend seen since the second half of 2025. Still, current mortgage rates remain below year-ago levels, and some buyers are taking advantage of the lull in the market. According to data from the Mortgage Bankers Association, mortgage applications for home purchases fell last week compared to the previous week but were up 8% year-on-year. (Jin 10)