30-Year Mortgage Rates Rise to 6.55%, Slightly Easing Housing Affordability
Event summary
- The 30-year fixed-rate mortgage (FRM) averaged 6.55% as of July 16, 2026, up from 6.49% the previous week.
- A year ago, the 30-year FRM averaged 6.75%, indicating a slight decrease over the past year.
- The 15-year FRM averaged 5.93%, up from 5.82% the previous week and slightly higher than the 5.92% average a year ago.
- Freddie Mac's Chief Economist Sam Khater noted that purchase application demand has weakened but housing affordability is improving.
The big picture
The rise in mortgage rates to 6.55% reflects ongoing volatility in the housing market, though Freddie Mac's data suggests a modest improvement in affordability and inventory levels. This dynamic could influence homebuyer behavior and market stability in the coming months, particularly as economic conditions continue to evolve.
What we're watching
- Affordability Trends
- How the modest improvement in housing affordability will impact homebuyer demand.
- Inventory Dynamics
- The pace at which rising housing inventory will influence market stability and pricing.
- Economic Indicators
- Whether the slight decrease in mortgage rates over the past year signals broader economic stabilization.
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