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Yeshiva World News · Jul 16, 2026

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The average rate on a 30-year fixed U.S. mortgage has climbed to 6.55%, its highest level in nearly a year, as fighting with Iran pushed Treasury yields higher. Higher mortgage rates are weighing on the housing market, with pending home sales falling 5.4% in June and mortgage applications down 7% last week. Economists say easing inflation could eventually help lower rates, but renewed geopolitical tensions are keeping borrowing costs elevated.

The average rate on a 30-year fixed U.S. mortgage has climbed to 6.55%, its highest level in nearly a year, as fighting with Iran pushed Treasury yields higher. Higher mortgage rates are weighing on the housing market, with pending home sales falling 5.4% in June and mortgage applications down 7% last week. Economists say easing inflation could eventually help lower rates, but renewed geopolitical tensions are keeping borrowing costs elevated.

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