Mortgage rates hit 6.71%, a 52-week high, squeezing homebuyer budgets
MarketsFN Data Team
The 30-year fixed mortgage rate rose 5 basis points this week to 6.71%, pushing monthly payments on a $400,000 loan to $2,584 — $100 more than a year ago.
The 30-year rate now sits above its 3-month (6.58%), 1-year (6.33%), and 5-year (6.15%) averages, marking the highest level in 52 weeks (range: 5.98%-6.71%). At today’s rate, a $400,000 mortgage costs $2,584 monthly — up from $2,484 a year ago at 6.04%, adding $1,200 annually to borrowing costs.
Rates are climbing as the 10-year Treasury yield holds at 4.80%, with the mortgage-Treasury spread widening to 1.91 percentage points — above historical norms — reflecting lender caution. The Fed’s 3.63% policy rate continues to anchor borrowing costs, but sticky inflation keeps upward pressure on long-term rates.
Watch next week’s Fed commentary and August inflation data for clues on rate trajectory. Seasonal cooling in homebuying demand may ease upward pressure, but strong labor market data could reinforce the high-rate environment.
Key Statistics at a Glance
| Week ending | September 10, 2026 |
| 30Y Fixed Rate | 6.71% |
| WoW change | ▲ 5.0 bps |
| YTD change | +55.0 bps |
| 15Y Fixed Rate | 6.04% |
| 15Y WoW | ▲ 6.0 bps |
| 3-month average | 6.58% |
| 1-year average | 6.33% |
| 5-year average | 6.15% |
| 52-week high | 6.71% |
| 52-week low | 5.98% |
| Fed Funds Rate | 3.63% |
| 10Y Treasury | 4.80% |
| Mortgage–10Y Spread | 1.91 pp |
| Monthly pmt $400k/30Y | $2,584 |
| vs 1 year ago | ▲ $100/month |
