Odaily Planet Daily report: U.S. mortgage rates rose to their highest level in a year last week, further dampening housing purchase demand in an already sluggish market. Data released on Wednesday showed that the 30-year fixed mortgage rate increased by 5 basis points to 6.81% for the week ending July 31. Rates had previously fallen to their lowest level since 2022 just before the outbreak of the Iran war in late February. Since then, rates have steadily risen as the conflict pushed up energy prices and intensified inflation concerns. This shift has led to weaker loan demand: the Mortgage Bankers Association’s Purchase Application Index, which measures loan applications, dropped 3.6% from the previous week to its lowest level in five months; the refinance index also declined 1.9%, falling to its lowest level since mid-2025. (Jinshi)
U.S. 30-Year Mortgage Rates Rise to One-Year High
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Summary
U.S. 30-year mortgage rates reached 6.81% for the week ending July 31, the highest level in a year. The 5-basis-point increase followed rising energy prices and inflation concerns after the Iran conflict in early 2026. Interest rates remain a key focus for investors monitoring altcoins. The Mortgage Bankers Association reported a 3.6% decline in home purchase loan applications to a five-month low, while the refinance index fell 1.9% to its lowest level since mid-2025.
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