US 30-year mortgage rate hits 6.66%, highest level in a year

Borrowing costs for homebuyers are climbing back toward last year's peaks, intensifying headwinds for the housing market and signaling that affordability pressures persist despite earlier dips.

By Handelsavisen Newsroom · Automated 2026-07-30 16:24 UTC · 1 min read Last updated: 2026-07-30 18:49 UTC

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The benchmark 30-year fixed-rate mortgage in the United States rose to 6.66% this week, marking the highest level in twelve months.

The increase from 6.58% last week underscores a renewed upward drift in housing finance costs, according to data from mortgage buyer Freddie Mac.

72% average recorded one year ago, the trajectory suggests that the relief in mortgage pricing has been short-lived.

The move to 6.66% represents a tangible setback for prospective homebuyers who had seen borrowing costs ease slightly in recent weeks.

While the rate remains below the 6.72% average recorded one year ago, the trajectory suggests that the relief in mortgage pricing has been short-lived.

For investors tracking the housing sector, the data reinforces the view that elevated borrowing costs continue to cap demand and weigh on transaction volumes.

This latest reading follows a period of volatility in mortgage markets, with rates previously climbing to 6.65% in mid-July.