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● TRACKER Updated 5d ago · 18 sources tracked

Where are mortgage rates heading in August

Mortgage rates continue to rise, approaching peaks seen in July of the previous year. The 30-year fixed rate recently gained 3 basis points because investors expect the Federal Reserve to implement a short-term rate hike in September. While July saw the strongest annual gain in home sales for the year, Zillow warns that rising rates and weak pending sales may reduce housing activity in coming months. This trend coincides with broader economic instability, including rising oil prices linked to the Iran war.

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What changed

Investors are now pricing in a Federal Reserve short-term rate hike for September.

Live updates

  1. Mortgage Rates Climb as Investors Anticipate September Fed Rate Hike

    Mortgage rates continue to rise, approaching peaks seen in July of the previous year. The 30-year fixed rate recently gained 3 basis points because investors expect the Federal Reserve to implement a short-term rate hike in September. While July saw the strongest annual gain in home sales for the year, Zillow warns that rising rates and weak pending sales may reduce housing activity in coming months. This trend coincides with broader economic instability, including rising oil prices linked to the Iran war.

    Why it matters

    Higher borrowing costs typically reduce buyer affordability and slow the pace of home sales. The current trajectory suggests a tightening credit environment as the Federal Reserve reacts to economic pressures. This shift follows a period of market resilience despite persistent inflation.

    What is confirmed

    • The 30-year fixed mortgage rate increased by 3 basis points.
    • Home sales experienced their strongest annual gain of the year in July.

    Still unconfirmed

    • Zillow warns that a drying listings pipeline and higher rates will slow future housing activity.
    • Oil prices are rising due to the Iran war.

    What to watch next

    • Federal Reserve announcement on short-term rates in September
    • August home sales and pending sales data
    Sources used for this update (4)
    1. www.americanbanker.com — Mortgage rates keep rising, nearing last July's peak
    2. fox17.com — Home sales surge in July, but Zillow warns listings pipeline might be drying up
    3. markets.businessinsider.com — CAPREIT Reports Second Quarter 2026 Results
    4. www.dailynews.com — US stocks edge lower as oil prices rise and more earnings reports roll in
    confidence 90%

  2. Mortgage rates likely to rise in August

    Mortgage interest rates are expected to move higher in August due to intensifying global conflicts and persistent inflation fears. The average 30-year US mortgage rate has climbed to 6.66%, the highest in a year. Despite this, the housing market shows resilience with an increase in weekly pending sales and inventory levels.

    Why it matters

    The direction of mortgage rates significantly impacts the housing market and broader economy. Higher rates can increase borrowing costs, affecting homebuyers and homeowners. Recent data and analyst forecasts indicate a complex market with conflicting trends.

    What is confirmed

    • Average 30-year US mortgage rates have climbed to 6.66%, marking the highest level seen in a year.
    • Mortgage interest rates are likely to move higher in August.
    • The housing market continues to show resilience despite higher rates, with recent data indicating an increase in weekly pending sales and inventory levels.
    • High rates are still holding back mortgage volume.

    Still unconfirmed

    • The war in Iran appears to be intensifying, which could further impact mortgage rates.

    What to watch next

    • Inflation data releases
    • Global economic developments
    • Federal Reserve policy updates
    Sources used for this update (5)
    1. consent.yahoo.com — Beeline Holdings (BLNE) to Update Investors on Q2 Results as Digital Mortgage Strategy Targets Changing Housing Market
    2. www.djournal.com — August Mortgage Outlook: Rates Heading Higher
    3. www.achrnews.com — Lennox Residential HVAC Sales Fall 7% in Second Quarter
    4. www.aol.com — FICO says high rates still holding back mortgage volume
    5. www.insurancebusinessmag.com — Canada's life insurance gap is really an opportunity gap, data suggests
    confidence 85%

  3. US 30-Year Mortgage Rates Hit One-Year High of 6.66%

    Average 30-year US mortgage rates have climbed to 6.66%, marking the highest level seen in a year. This increase is driven by persistent fears regarding inflation. While some analysts suggest there is room for rates to fall, current trends show a jump in borrowing costs. The housing market continues to show resilience despite these higher rates, with recent data indicating an increase in weekly pending sales and inventory levels.

    Why it matters

    Mortgage rates typically track inflation expectations and Treasury yields. Persistent inflation pressures often lead to higher borrowing costs for homeowners. These rates influence the volume of home sales and the affordability of refinancing options.

    What is confirmed

    • The average 30-year US mortgage rate reached 6.66%, the highest level in a year.
    • Mortgage rates reached a one-year high due to persistent inflation fears.

    Still unconfirmed

    • Mortgage rates have more room to fall as of July 31, 2026.
    • Weekly pending sales rose to 69,109 as the 10-year yield hit 4.74%.
    • Housing inventory increased to 872,932.

    What to watch next

    • New inflation data reports
    • Changes in the 10-year Treasury yield
    • Professional predictions for August and beyond
    Sources used for this update (9)
    1. AP News — Average 30-year US mortgage rate rises to highest level in a year at 6.66%
    2. CBS News — Mortgage rates hit highest level in a year amid persistent inflation fears
    3. wsj.com — Mortgage Rates Jump to a One-Year High
    4. MarketWatch — Where are mortgage rates heading in August — and beyond? Here’s what the pros predict
    5. Yahoo Finance — Mortgage and refinance interest rates today, Friday, July 31, 2026: Mortgage rates find more room to fall
    6. www.housingwire.com — The housing market defies expectations even with higher rates
    7. www.interest.co.nz — Breakfast briefing: US inflation progress stalls in October
    8. ca.finance.yahoo.com — Omnicom Group Inc. OMC Stock Forecast & Price Target
    9. www.thenewsherald.com — Downriver real estate market slowly rebounds
    confidence 90%

  4. US 30-Year Mortgage Rates Hit One-Year High of 6.66%

    Average 30-year US mortgage rates have climbed to 6.66%, the highest level recorded in one year. This spike follows persistent fears regarding inflation. While some analysts suggest rates may find room to fall, current data shows a sharp jump. The housing market continues to operate despite these higher costs, with recent data showing an increase in weekly pending sales and inventory as the 10-year yield reached 4.74%.

    Why it matters

    Mortgage rates typically track the 10-year Treasury yield and inflation expectations. Persistent inflation pressures force rates higher, increasing the cost of borrowing for homebuyers. This creates a tension between affordability and the current resilience of housing demand.

    What is confirmed

    • The average 30-year US mortgage rate reached 6.66%.
    • Mortgage rates have hit their highest level in one year.

    Still unconfirmed

    • Mortgage rates may find more room to fall.
    • Persistent inflation fears are driving the current rise in mortgage rates.

    What to watch next

    • New inflation data reports
    • Changes in the 10-year Treasury yield
    • August mortgage rate predictions from industry professionals
    Sources used for this update (9)
    1. AP News — Average 30-year US mortgage rate rises to highest level in a year at 6.66%
    2. CBS News — Mortgage rates hit highest level in a year amid persistent inflation fears
    3. wsj.com — Mortgage Rates Jump to a One-Year High
    4. MarketWatch — Where are mortgage rates heading in August — and beyond? Here’s what the pros predict
    5. Yahoo Finance — Mortgage and refinance interest rates today, Friday, July 31, 2026: Mortgage rates find more room to fall
    6. www.housingwire.com — The housing market defies expectations even with higher rates
    7. www.interest.co.nz — Breakfast briefing: US inflation progress stalls in October
    8. ca.finance.yahoo.com — Omnicom Group Inc. OMC Stock Forecast & Price Target
    9. www.thenewsherald.com — Downriver real estate market slowly rebounds
    confidence 90%