Mortgage Rates Hit 7% for the First Time Since January 2025

New York, NY, September 25, 2026—Mortgage rates hit 7% for the first time since January 2025, reports Morning Brew. 

“The average 30-year fixed-rate mortgage jumped to 7.03% on Thursday, Freddie Mac said yesterday. That’s up from 6.3% a year ago and represents the first time mortgages have breached the psychologically significant 7% mark in 20 months. That’s likely to hit the already stagnant housing market hard. With inflation remaining elevated and the war in Iran driving up oil prices, the bond market-which mortgage rates tend to follow-has seen large yield spikes.”