Current mortgage rates are up and higher than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. Even though Federal Reserve policy doesn’t directly impact today’s mortgage rates, they have been easing since the Fed began cutting rates in late 2024.

Summary: Mortgage rates in the U.S. climbed for a second straight week, with the average for 30-year, fixed loans reaching 6.75%, up from 6.72% the previous week, according to Freddie Mac data. This marks the second consecutive week of increases after five weeks of declines earlier in the summer.

A rise in mortgage interest rates has led to a decline in people applying for home loans and homeowners refinancing.