U.S. Mortgage Rates Reach Highest Level Since August Last Year

This week, U.S. mortgage rates have risen to their highest level since August of last year, posing another challenge for homebuyers during what is typically the busiest time of the year for real estate sales. According to Odaily, Freddie Mac reported on Thursday that the average rate for a 30-year fixed mortgage increased to 6.51% this week, up from 6.36% the previous week. In addition, rising costs of home insurance and property taxes in many areas are also deterring buyers. The increase in mortgage rates this year has reversed the downward trend seen since the second half of 2025. Despite this, current mortgage rates remain lower than they were a year ago, and some buyers are taking advantage of the quieter market to make purchases. According to the Mortgage Bankers Association, mortgage applications for home purchases decreased last week compared to the previous week but showed an 8% increase year-over-year.