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● TRACKER Updated 12d ago · 13 sources tracked

Mortgage rates rise, bringing the average rate on a 30-year home loan to where it was 4 weeks ago

The average benchmark 30-year fixed rate mortgage rose to 6.71% this week, according to Freddie Mac. This figure represents a climb from 6.66% last week and marks the highest rate seen in 13 months. The surge follows a period of volatility where rates previously fluctuated around 6.7% in late August. Higher borrowing costs continue to pressure home buyers as the market moves away from earlier expectations of falling rates throughout the year.

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  • ✓ The average 30-year fixed rate mortgage rose to 6.71% this week.
  • ✓ The current average mortgage rate is the highest level in 13 months.
  • ✓ The average rate increased from 6.66% last week.
🛡️ Source Corroboration: 13 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Freddie Mac reported the 30-year fixed rate increased to 6.71% from 6.66%.

Live updates

  1. Average 30-year mortgage rate hits 13-month high at 6.71%

    The average benchmark 30-year fixed rate mortgage rose to 6.71% this week, according to Freddie Mac. This figure represents a climb from 6.66% last week and marks the highest rate seen in 13 months. The surge follows a period of volatility where rates previously fluctuated around 6.7% in late August. Higher borrowing costs continue to pressure home buyers as the market moves away from earlier expectations of falling rates throughout the year.

    Why it matters

    Market expectations for rate cuts were disrupted by conflict with Iran and a corresponding increase in oil prices. These geopolitical factors pushed rates to levels not seen since June 2025.

    What is confirmed

    • The average 30-year fixed rate mortgage rose to 6.71% this week.
    • The current average mortgage rate is the highest level in 13 months.
    • The average rate increased from 6.66% last week.

    Still unconfirmed

    • War with Iran and rising oil prices upended expectations for falling rates this year.

    What to watch next

    • Federal Reserve decisions on September interest rate hikes
    • Further fluctuations in oil prices linked to Middle East attacks
    Sources used for this update (4)
    1. www.cnbc.com — Mortgage rates surge to the highest since June 2025 as new Middle East attacks push oil prices up
    2. www.chicoer.com — Average rate on a 30-year mortgage climbs to highest level in 13 months
    3. finance.yahoo.com — Freddie Mac says the average rate on a 30-year mortgage rose to 6.71% this week, its highest level in 13 months
    4. www.briefs.co — Asia Stocks Edge Higher as Fed Hike Bets Cool; Yen Snaps Back
    confidence 100%

  2. 30-Year Mortgage Rates Return to Four-Week Highs

    Average mortgage rates for 30-year home loans have risen to levels seen four weeks ago, with Freddie Mac reporting a slight increase to 6.66%. This upward trend has weakened buyer demand. While some reports indicate rates remained stuck near 6.7% on August 27 or held steady, others noted a 12 basis point rise in 30-year refinance rates by August 28. The current environment leaves buyers facing higher borrowing costs, though some rates dipped briefly on Friday ahead of a scheduled speech by Warsh at Jackson Hole.

    Why it matters

    Rising interest rates increase the monthly cost of home ownership, which typically reduces the number of qualified buyers in the market. This volatility often follows anticipation of central bank communications or economic data releases. The current fluctuations impact both new home purchases and homeowners seeking to refinance.

    What is confirmed

    • Freddie Mac reports US mortgage rates rose slightly to 6.66%.
    • Average rates on 30-year home loans have returned to levels seen four weeks ago.

    Still unconfirmed

    • Rates dipped on Friday, August 28, 2026, before a speech by Warsh at Jackson Hole.

    What to watch next

    • The outcome of the Warsh speech at Jackson Hole
    • New data on home buyer demand following the rate increase
    Sources used for this update (10)
    1. CNBC — Mortgage rates hit highest level in 3 weeks, weakening demand further
    2. AP News — Mortgage rates rise, bringing the average rate on a 30-year home loan to where it was 4 weeks ago
    3. Yahoo Finance — Mortgage and refinance interest rates today, Friday, August 28, 2026: Rates down ahead of Warsh speech at Jackson Hole
    4. Norada Real Estate Investments — Mortgage Rates Today, August 28, 2026: 30-Year Refinance Rate Rises by 12 Basis Points
    5. Mortgage News Daily — Mortgage Rates Hold Fairly Steady
    6. Realtor.com — Mortgage Calculator: What It Takes To Buy a $430K Home at a 6.66% Rate
    7. Yahoo Finance — Mortgage rates remain stuck near 6.7%: Mortgage and refinance interest rates today, Thursday, August 27, 2026
    8. Bloomberg.com — US Mortgage Rates Rise Slightly to 6.66%, Freddie Mac Says
    9. HousingWire — What can the government do to lower mortgage rates?
    10. www.denverpost.com — Why some Denver homeowners are renovating properties instead of scraping them
    confidence 80%
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