Freddie Mac said the average 30-year mortgage rate rose to 6.66%, its highest level in a year.
Why it matters: A 6.66% rate keeps monthly payments elevated, limiting how many buyers can qualify and discouraging refinancing. That means softer demand for lenders and less momentum for an already strained housing market.
- Freddie Mac said the average 30-year fixed mortgage rate rose to 6.66% on July 31, 2026, from 6.58% a week earlier.
- The reading is the highest since July 31, 2025, in Freddie Mac's Primary Mortgage Market Survey.
- The Mortgage Bankers Association said the average contract rate for 30-year fixed mortgages rose to 6.69% for the week ending July 17, 2026.
- The National Association of Home Builders said builder confidence remained weak in mid-July as affordability stayed constrained.
Freddie Mac's Primary Mortgage Market Survey is the closely watched weekly benchmark for the national average 30-year fixed mortgage rate. The latest reading put the rate at 6.66%, its highest level in a year.
That matters for buyers because even small rate moves change monthly payments and can price some households out of the market. It also weakens refinancing demand, which has already been limited by borrowing costs that remain well above recent lows.
Other housing indicators point in the same direction. In its weekly survey, the Mortgage Bankers Association said the average contract rate for 30-year fixed mortgages rose to 6.69% for the week ending July 17, 2026, while applications fell 6.4% in the latest weekly reading cited by AP. The National Association of Home Builders said builder confidence remained weak in mid-July as affordability stayed constrained by mortgage rates and other costs.
By the numbers
- 6.66% - Freddie Mac's average 30-year fixed mortgage rate on July 31, 2026
- 6.58% - the prior week's Freddie Mac reading
- 6.4% - the mortgage applications decline in the latest weekly reading cited by AP
Yes, but: Freddie Mac's benchmark is a national average, so individual borrowers may see higher or lower rates depending on credit, down payment and loan type.
What's next: Freddie Mac is scheduled to publish its next Primary Mortgage Market Survey next Thursday at noon ET.