US 30-Year Mortgage Rate Rises to 6.75%, Highest Since July 2025
Summary
- The US 30-year mortgage rate rose to 6.75%%, its highest level since July 2025.
- The latest rate increase is estimated to have raised monthly mortgage payments by about $167 for a median-priced US home.
- Markets are watching how the prospect of higher rates for longer could affect the US housing market and slow consumer spending.
Forecast Trend Report by Period
The average rate on a 30-year US mortgage has climbed to its highest level since July 2025, adding to pressure on the housing market as Treasury yields surge and geopolitical risks in the Middle East intensify.
Walter Bloomberg reported on May 19 that the 30-year fixed mortgage rate rose to 6.75%.
That was up 7 basis points from a day earlier and 33 basis points over the past 10 days.
The rate is about 46 basis points above its April low, the report said.
It had previously fallen to around 6.6% in March amid heightened volatility tied to the war in the Middle East.
The outlet said the bond market was signaling pressure on policymakers to push for an end to the war.
The increase is estimated to have raised monthly mortgage payments by about $167 for a median-priced US home.
US Treasury yields have recently come under upward pressure amid inflation concerns and a surge in global oil prices.
Markets are focused on how a prolonged period of high rates could weigh on the US housing market and consumer spending.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
