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● LIVE Updated 46m ago · 16 sources tracked

Average rate on a 30-year mortgage climbs to highest level in 13 months

The benchmark 30-year fixed mortgage rate remains at 6.71%, the highest level since July 2025. This rate is currently squeezing buyers in markets such as Greenville, South Carolina, where home sales are slowing despite an increase in available inventory. Borrowing costs have risen from a previous weekly average of 6.66%, driven by high bond yields and persistent inflation linked to the U.S.-Iran conflict. While the Federal Reserve has attempted stabilization, these economic pressures continue to force buyers and sellers to adjust their strategies across various regions.

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What changed

Reports now confirm that rising rates are specifically slowing home sales in Upstate South Carolina despite growing inventory.

Live updates

  1. 30-Year Mortgage Rates Hold at 13-Month High of 6.71%

    The benchmark 30-year fixed mortgage rate remains at 6.71%, the highest level since July 2025. This rate is currently squeezing buyers in markets such as Greenville, South Carolina, where home sales are slowing despite an increase in available inventory. Borrowing costs have risen from a previous weekly average of 6.66%, driven by high bond yields and persistent inflation linked to the U.S.-Iran conflict. While the Federal Reserve has attempted stabilization, these economic pressures continue to force buyers and sellers to adjust their strategies across various regions.

    Why it matters

    Elevated borrowing costs typically reduce buyer purchasing power and increase the time homes stay on the market. Current trends show cooling activity in both the Washington, D.C. area and Upstate South Carolina. These shifts occur as inflation remains a primary driver of economic instability.

    What is confirmed

    • The 30-year fixed mortgage rate reached 6.71% as of September 3, 2026.
    • The current mortgage rate is the highest level since July 2025.
    • Inflation tied to the U.S.-Iran conflict is keeping bond yields high.

    Still unconfirmed

    • Rising mortgage rates are slowing home sales in Greenville, South Carolina.

    What to watch next

    • Federal Reserve announcements regarding inflation stabilization
    • New weekly mortgage rate averages for mid-September
    • Housing inventory data for the Washington, D.C. and South Carolina markets
    Sources used for this update (7)
    1. jen.jiji.com — Ciara announces pregnancy with fifth child
    2. www.timesleader.com — America In Focus: US hiring bounces back in August; mortgage rates climb
    3. jen.jiji.com — Kazakhstan declared winner in World Nomad Games medal standings
    4. finance.yahoo.com — Most organizations say full digital sovereignty is an unrealistic goal as businesses prioritize resilience over total independence
    5. jen.jiji.com — Almaty-London flight diverted to Frankfurt amid Heathrow closure
    6. jen.jiji.com — How the Golden Horde changed the world: French historian’s book presented in Almaty
    7. hoodline.com — Upstate Homes Sit Longer as 6.71% Mortgage Rates Squeeze Greenville Buyers
    confidence 90%

  2. US Mortgage Rates Reach 13-Month High as Housing Market Shifts

    The benchmark 30-year fixed mortgage rate increased to 6.71% as of September 3, 2026, reaching its highest level since July 2025. This rise from the previous week's average of 6.66% forces buyers and sellers to alter their strategies as borrowing costs climb. The elevated rates stem from persistent inflation tied to the U.S.-Iran conflict, which keeps bond yields high despite Federal Reserve stabilization efforts. Meanwhile, the Washington, D.C. area housing market shows cooling trends with more homes lingering on the market, prompting price reductions and increased buyer leverage.

    Why it matters

    Housing markets face pressure from multi-decade price surges alongside rising borrowing expenses. For perspective, a typical California home that cost $105,000 in 1986 now costs $779,000. These affordability hurdles coincide with an evenly split market expectation regarding whether the Federal Reserve will raise or hold interest rates in September.

    What is confirmed

    • The benchmark 30-year fixed mortgage rate rose to 6.71% as of September 3, 2026.
    • Mortgage rates reached their highest level in 13-months, marking the highest rate seen since July 2025.

    Still unconfirmed

    • Trump threatened to halt trade with countries running surpluses with the U.S.

    What to watch next

    • The release of the August Producer Price Index inflation report on Thursday.
    • Federal Reserve decisions regarding September interest rates.
    Sources used for this update (5)
    1. en.sedaily.com — Trump Threatens to Halt Trade With Surplus Nations Over Fed Rates
    2. apnews.com — Wall Street week ahead: The market focuses on key inflation updates
    3. www.fox17online.com — Mortgage rates are at a 13-month high. What does that mean for buying and selling a home?
    4. www.eastbaytimes.com — 40 years covering California’s economic thrill ride
    5. wtop.com — DC-area housing market shows signs of cooling
    confidence 90%

  3. Average 30-Year Mortgage Rate Hits 6.71%

    The benchmark 30-year fixed mortgage rate rose to 6.71% as of September 3, 2026, marking the highest level in 13 months. Freddie Mac reported the increase from last week's average of 6.66%. This climb represents the highest rate seen since July 2025. The surge comes as inflation linked to the U.S.-Iran conflict maintains elevated bond yields, despite recent efforts by Federal Reserve officials to steady the bond market. Current market bets on whether the Federal Reserve will hike or hold rates in September are split evenly.

    Why it matters

    Mortgage rates typically track Treasury yields, which are influenced by inflation data and Federal Reserve policy. Bureau of Labor Statistics data shows the 12-month inflation rate for July was 3.4 percent, a decrease from 4.2 percent in May. These fluctuations directly impact homebuyer affordability and refinance activity.

    What is confirmed

    • The average 30-year fixed mortgage rate rose to 6.71% on September 3, 2026.
    • The current mortgage rate is the highest level since July 2025.
    • Freddie Mac reported the rate rose from 6.66% last week to 6.71%.
    • The July 12-month inflation rate was 3.4 percent, down from 4.2 percent in May.

    Still unconfirmed

    • Inflation tied to the U.S.-Iran conflict is keeping bond yields elevated.
    • Dovish remarks from Fed officials Waller and Williams steadied Treasury yields.
    • September rate hike and hold odds are split at roughly 50-50.

    What to watch next

    • Federal Reserve decision on September interest rate hikes or holds
    • New Bureau of Labor Statistics inflation data reports
    Sources used for this update (9)
    1. The New York Times — Mortgage Rates Hit 6.71%, Their Highest Level Since July 2025
    2. Yahoo Finance — Mortgage rates hit highest level in over a year: Mortgage and refinance interest rates today, Thursday, September 3, 2026
    3. The Hill — Benchmark mortgage rate hits highest mark in over a year
    4. Reuters — US fixed 30-year mortgage rate rises to highest since July 2025
    5. AP News — Average rate on a 30-year mortgage climbs to highest level in 13 months
    6. en.sedaily.com — Fed Doves Calm Bond Market, But Rate Bets Split Down the Middle
    7. www.theepochtimes.com — 30-Year Mortgage Rate Hits Highest Level in 13 Months
    8. www.twincities.com — Average rate on a 30-year mortgage climbs to highest level in 13 months
    9. finance.yahoo.com — 30-year mortgage rate hits highest since July 2025
    confidence 95%