Mortgage rates inch up to 6.66%, pushing monthly payments $87 higher than last year
MarketsFN Data Team
The 30-year fixed mortgage rate rose slightly to 6.66% this week (+0.10 bps WoW), squeezing affordability as buyers now pay $2,571 monthly on a $400k loan — $87 more than a year ago.
Today’s 30-year rate remains above its 3-month (6.56%), 1-year (6.32%), and 5-year (6.14%) averages, hovering near the 52-week high of 6.69%. A $400k mortgage now costs $2,571 monthly, up from $2,484 a year ago at 5.98%, reflecting the 50 bps YTD climb in borrowing costs.
Rates are pressured by the 10Y Treasury yield (4.75%) and Fed Funds Rate (3.63%). The 1.91 pp mortgage-Treasury spread suggests lenders remain cautious, pricing in economic uncertainty and inflation risks despite stable Fed policy expectations.
Watch for Fed commentary on inflation and Friday’s jobs report, which could sway Treasury yields. Seasonal cooling in housing demand may ease upward rate pressure, but sticky inflation could prolong high borrowing costs.
Key Statistics at a Glance
| Week ending | September 01, 2026 |
| 30Y Fixed Rate | 6.66% |
| WoW change | ▲ 1.0 bps |
| YTD change | +50.0 bps |
| 15Y Fixed Rate | 5.98% |
| 15Y WoW | ▲ 3.0 bps |
| 3-month average | 6.56% |
| 1-year average | 6.32% |
| 5-year average | 6.14% |
| 52-week high | 6.69% |
| 52-week low | 5.98% |
| Fed Funds Rate | 3.63% |
| 10Y Treasury | 4.75% |
| Mortgage–10Y Spread | 1.91 pp |
| Monthly pmt $400k/30Y | $2,571 |
| vs 1 year ago | ▲ $87/month |
