US Mortgage Rate Rises to 6.85 Percent
The average 30-year fixed-rate mortgage in the United States climbed to 6.85 percent last week, reaching its highest level since June 2025. Rising oil prices and Treasury yields drove the increase, causing mortgage applications to decline.
Insights:
The average United States 30-year fixed mortgage rate climbed 6 basis points to 6.85% in the week ended September 4. The rate reached its highest level in more than 14 months, driven by rising Treasury yields and inflation concerns. Elevated borrowing costs continue to suppress borrower demand across the housing market.
