US mortgage rates brush 7%, weighing on buyers, sellers and further straining a bleak housing market
United States mortgage rates have climbed to 6.97 percent, marking the highest level in more than a year and the fourth consecutive week of increases. The surging interest rates are heavily weighing on both buyers and sellers, resulting in a bleak and stagnant housing market. Mortgage demand from homebuyers has dropped 19 percent compared to a year ago as the abrupt rate surge creates fresh hurdles for everyday consumers trying to achieve homeownership.
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- ✓ US mortgage rates rose to 6.97 percent, reaching their highest level in more than a year.
- ✓ Mortgage demand from homebuyers dropped 19 percent from a year ago.
- ✓ Mortgage rates climbed for the fourth straight week.
What changed
US mortgage rates surged to 6.97 percent, marking their fourth consecutive weekly increase and the highest level in more than a year.
Live updates
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US Mortgage Rates Approach 7% as Housing Market Struggles
United States mortgage rates have climbed to 6.97 percent, marking the highest level in more than a year and the fourth consecutive week of increases. The surging interest rates are heavily weighing on both buyers and sellers, resulting in a bleak and stagnant housing market. Mortgage demand from homebuyers has dropped 19 percent compared to a year ago as the abrupt rate surge creates fresh hurdles for everyday consumers trying to achieve homeownership.
Why it matters
The rising borrowing costs continue to squeeze an already constrained real estate market across the nation, affecting regional hubs like North Texas. While the Federal Reserve adjusted its monetary policy recently, observers note that mortgage rates do not move in lockstep with the central bank actions and climbed despite broader economic adjustments. High financing expenses continue to sideline prospective purchasers.
What is confirmed
- US mortgage rates rose to 6.97 percent, reaching their highest level in more than a year.
- Mortgage demand from homebuyers dropped 19 percent from a year ago.
- Mortgage rates climbed for the fourth straight week.
Still unconfirmed
- Local real estate conditions in areas like North Texas are seeing immediate drops in buyer activity due to the new rate hikes.
What to watch next
- Further weekly mortgage rate movements from industry trackers
- Updates on homebuyer demand and purchase applications
confidence 100%Sources used for this update (12)
- WSJ — The Stagnant Housing Market Is About to Face a 7% Mortgage
- nbcdfw.com — Mortgage rates climb above 7%. What it means for North Texas homebuyers
- Bloomberg.com — US Mortgage Rates Rise to 6.97%, Highest In More Than a Year
- CNBC — Mortgage demand from homebuyers drops 19% from a year ago, as interest rates surge abruptly higher
- AP News — Struggling US home buyers, and market, face new hurdles as mortgage rates near 7%
- mortgagenewsdaily.com — No, The Fed Didn't Hike Mortgage Rates Today
- CNN — Mortgage rates climb for fourth-straight week to hit highest level since Trump took office
- Yahoo Finance — Mortgage rates fell slightly after the Fed hiked rates: Mortgage and refinance interest rates today, Thursday, September 17, 2026
- Mortgage News Daily — Mortgage Rates Back Near Lows of The Week
- WSFA — Local realtor weighs in on homeownership amid rate hikes
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- www.heraldbulletin.com — Trump has a deal to build US military presence in Greenland while leaving island in Denmark's hands
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