30-Year Mortgage Rates Rise to 6.71%, Signaling Persistent Market Pressures
Event summary
- 30-year fixed-rate mortgage (FRM) averaged 6.71% as of September 3, 2026, up from 6.66% last week and 6.50% a year ago.
- 15-year FRM averaged 6.04%, up from 5.98% last week and 5.60% a year ago.
- Freddie Mac's Chief Economist Sam Khater notes purchase demand remains stable despite evolving market conditions.
- PMMS® survey focuses on conventional, conforming, fully amortizing home purchase loans with 20% down and excellent credit.
The big picture
The rise in mortgage rates reflects ongoing adjustments in the housing market, with buyers adapting to higher borrowing costs. Freddie Mac's data suggests a stable demand environment, but persistent rate increases could pressure affordability and market liquidity. The trends highlight the delicate balance between economic growth and housing accessibility, with implications for both lenders and homebuyers.
What we're watching
- Rate Sensitivity
- How sustained rate increases will affect homebuyer affordability and market activity.
- Demand Stability
- Whether purchase demand can maintain stability amid rising rates and evolving market conditions.
- Economic Indicators
- The pace at which broader economic factors influence mortgage rate trends.
Related topics