The average rate of fixed-rate mortgages for 30 years has risen to 6.51% in the U.S., the highest level since August 2025, according to Freddie Mac.

The average rate of fixed-rate mortgages for 30 years has risen to 6.51% this week, reaching the highest level since August 2025, according to data provided by Freddie Mac. This represents the sharpest weekly increase since April 2025, influenced by pressure in the bond market, generated by Donald Trump's announcements regarding tariff increases. The mortgage rate is closely tied to the yield on 10-year U.S. Treasury bonds, which has risen due to concerns about persistent inflation, fueled by rising oil prices and the conflict in Iran. Prices increased by 3.8% in April, and wages have not outpaced inflation for the first time in three years. Although mortgage rates are lower than last year, they have not decreased as expected, and mortgage applications have dropped by 2.4% compared to last year, signaling an anemic start to the home buying season.