U.S. 30-Year Mortgage Rates Climb Above 7% To Two-Year High
The Mortgage Bankers Association reported the average U.S. 30-year fixed mortgage rate rose to 7.12% for the week ending Sept. 18, 2026, topping 7% for the first time since May 2024.[1]
Freddie Mac's weekly survey showed a slightly lower 30-year average of 6.95% as of Sept. 17, 2026. The rate on 5/1 adjustable-rate mortgages remained about one percentage point lower than 30-year fixed loans, pushing more borrowers toward ARMs. Some lenders had already priced in the Federal Reserve's 0.25 percentage-point increase last week, and that helped lift mortgage costs.
The Federal Reserve raised interest rates by 0.25 percentage point last week. The 10-year Treasury yield has climbed to about 5%, more than one percentage point higher than before the Iran war began in late February. Higher long-term yields tend to push fixed mortgage rates up as lenders demand bigger returns. That squeeze on borrowing costs could further cool homebuying this fall.
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📌 Key Facts
- The MBA reported the average 30-year fixed-rate mortgage at 7.12% for the week ending September 18, 2026, the highest since May 2024.
- Freddie Mac data show the average 30-year fixed mortgage rate at 6.95% as of September 17, 2026.
- The rate on 5/1 adjustable-rate mortgages was about one percentage point lower than 30-year fixed loans, prompting more borrowers to choose ARMs.
- The 10-year Treasury yield is around 5%, more than one percentage point higher than before the Iran war began in late February.
- The Federal Reserve raised interest rates by 0.25 percentage point last week, a move some lenders had already priced into mortgage rates.
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