Mortgage Rates Hit Highest Level In A Year Amid Persistent Inflation Fears

The rate on a conventional 30-year mortgage averaged 6.66% in the week ending July 30, the highest level since July 2025.

CBS San Francisco · Patch

July 31, 2026

Mortgage rates in the U.S. hit their highest level in a year on Thursday as renewed tensions in the Middle East and the Federal Reserve's interest rate decision this week fanned inflation concerns.

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The rate on a conventional 30-year mortgage averaged 6.66% in the week ending July 30, the highest level since July 2025, according to data from Freddie Mac.

Inflation can drive up mortgage rates, which tend to track the bond market, particularly the 10-year Treasury yield. Those yields jumped after the Fed on Wednesday left its benchmark interest rate unchanged.