US mortgage rates edge up to 6.49%

For the week of July 9, 2026, the average rate on a 30-year fixed-rate mortgage in the United States reached 6.49%. This reading from Freddie Mac’s Primary Mortgage Market Survey marked an uptick from 6.43% recorded a week earlier. The move reinforces that borrowing costs for long-term home loans remain elevated in the current environment.

The 30-year rate, while higher than the prior week, was still below the 6.72% average reported one year earlier. This comparison shows that current mortgage costs are somewhat lower than at the same point last year, even as they trend higher on a week-to-week basis.

The 15-year fixed-rate mortgage, another widely tracked benchmark, also rose in the latest weekly survey. For the week of July 9, 2026, the 15-year fixed averaged 5.82%, up from 5.79% one week earlier. This indicates a modest increase in costs for borrowers choosing shorter loan terms.

On a year-over-year basis, the 15-year fixed rate was slightly below its level of 5.86% a year earlier. As with the 30-year mortgage, this suggests that while rates have moved higher in the latest week, they remain marginally lower than at the same time last year.

The rise in both 30-year and 15-year fixed mortgage rates for the week of July 9, 2026, means higher interest expenses for new borrowers compared with the prior week. Even small increases in average rates can raise monthly payments, especially for larger loan balances.

Because the benchmark 30-year rate now sits in the mid-6% range, financing a home purchase generally requires more income or a larger down payment than when rates were lower. While current averages are slightly below year-ago levels, the recent weekly increase adds to the cost pressures facing prospective buyers in the market.